Finnfund has invested USD 15mn in Metier Capital Growth Fund III, a fund that will make between eight to twelve equity and equity-related investments in mid-market companies seeking growth capital.
These companies, located across sub–Saharan Africa, will operate in the ICT and manufacturing sectors amongst others.
The Finnish DFI’s investment is part of the fund’s USD 182mn first close. Further commitments are expected, which means the fund will surpass its targeted fund size of USD 200mn.
This investment meets with the 2X Challenge, which aligns with gender lens investment requirements.