South African investment firm PE Metier has provided backing to a microfinance company from its latest fund.
South African PE firm Metier has closed its latest fund, exceeding its target, and is now set to strike a series of deals in Sub-Saharan Africa. This marks the first new deal for Metier after nearly two years.
The latest investment, made by Metier Capital Growth Fund III (MCG Fund III), is focused on mid-market companies in the region. In this case, Metier has invested in AgroCenta, a company that operates in the agricultural sector, in collaboration with a microfinance institution. This marks the seventh investment of the MCG Fund III, which was oversubscribed last year.
The specific terms of the investment are not disclosed. However, it is worth noting that this is the fifth deal from Metier's latest investment vehicle that closed last year with an oversubscription. The location of the microfinance institution and the name of the specific institution are not mentioned in the provided paragraph.
This investment comes a year after Metier's previous investment, and it is the fourth deal from Metier's new fund. Another South African PE fund is set to exit, allowing Infra Impact to make its fifth bet.
Metier, an Africa-focused private equity firm, has a history of investing in various sectors across the continent. This latest investment in AgroCenta is a testament to their commitment to supporting mid-market companies in Sub-Saharan Africa.
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