Metier announces first close of Metier Capital Growth Fund III
Successful first close for African private equity fund, Metier Capital Growth Fund III
Metier announced the first close for Metier Capital Growth Fund III, raising just over $182
million, with further commitments expected by final close positioning Metier to exceed its
targeted fund size of $200 million.
The fund is the successor fund to the Metier Capital Growth Fund II of 2015/2016 which
invested in eight portfolio companies in the retail, out of home dining, healthcare, industrial
services, FMCG, manufacturing and telecommunications sectors.
The Fund has a geographic focus on Sub-Saharan Africa and is expected to make eight to
twelve equity and equity-related investments into mid-market companies with high growth
features in sectors that benefit from regional economic and demographic trends such as
population growth and increased urbanisation.
“Our active deal pipeline is characterised by growth capital investments that will have a
positive impact on climate change, create decent jobs with a focus on gender-lens investing,
support the connectivity of rural communities, and enhance the development of businesses
across Africa,” said Paul Botha, CEO and Co-founder of Metier. “Beyond delivering top
quartile returns, Metier’s core objective is to contribute towards positive and sustainable
impact across Sub-Saharan Africa.”
The Fund has attracted investment from both international and South African investors,
including significant commitments from international development finance institutions, who
were motivated by the Metier team’s focus and track record of investing for developmental
impact while delivering top quartile private equity performance.
Botha continued, “Our investors are optimistic about the investment opportunities on the
continent and recognise that partnering with an experienced manager that can combine
discerning investment selection with active value-adding management, can result in
meaningful impact and strong returns.”
Metier is an independent owner-managed private equity firm founded in 2003. The firm’s
independence is fundamental to its distinctive style, where the team forges partnerships with
its portfolio companies and management teams. Since its formation, Metier has grown to
comprise a team of over 40 professionals with offices in Johannesburg, Mauritius and
Nairobi, and representation in London. Metier operates two parallel investment practices, the
Capital Growth practice that concentrates on mid-cap entrepreneurial businesses requiring
growth capital in sectors which demonstrate emerging market growth, and the Sustainable
Capital practice that targets investments in energy efficiency, renewables, water and waste
management businesses. For more information, visit www.metier.africa.