The Lereko Metier Sustainable Capital Fund

The Lereko Metier Sustainable Capital Fund exceeded its initial targets and secured support from leading local and international institutions. As a result, it has positioned itself as a credible development capital provider within the clean technology and infrastructure investment landscape. The fund focuses on scalable opportunities that align with both commercial viability and sustainable development outcomes.

Investment Focus and Sector Strategy

The fund specialises in development capital and project expansion, with a clear emphasis on bankable and proven technologies. It does not invest in unproven or unbankable innovations. Instead, it prioritises middle-market and later-stage investments where operational and financial risks are more defined.

Moreover, the fund targets clean technology sectors such as renewable energy, energy efficiency, water management, and waste solutions. These include water purification, water supply systems, sewage treatment, and sanitation services. In addition, the fund supports power generation projects, particularly in wind and solar energy. This sector-focused approach ensures alignment with regional development priorities and environmental commitments.

Geographic Scope and Investment Structure

The fund invests across South Africa and the broader Sub-Saharan African region. It typically provides equity investments ranging between $3 million and $20 million. However, individual investments are capped at 15% of the total fund size to maintain portfolio diversification.

In terms of ownership, the fund seeks equity stakes between 20% and 60%. This enables it to secure either controlling or significant minority positions. Consequently, the fund can actively influence governance and strategic direction while supporting long-term value creation.

Value Proposition and Impact Objectives

Lereko Metier Sustainable Capital Fund targets investments that generate both financial returns and measurable social and environmental benefits. Therefore, it integrates impact-driven objectives with commercial investment principles.

Furthermore, the fund leverages the capabilities of an established private equity platform alongside a specialised team with expertise in renewable energy and sustainable infrastructure. This combination strengthens its ability to identify, structure, and manage complex investments. In addition, its strong regional networks enhance deal flow and partnership opportunities.

Portfolio and Track Record

The fund has demonstrated its investment capability through participation in several large-scale renewable energy projects. Notably, it invested in the 50MW Bokpoort concentrated solar power plant in the Northern Cape. This project formed part of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP) and represents a significant milestone in South Africa’s renewable energy rollout.

In addition, the fund partnered as an equity investor with a solar photovoltaic developer in projects awarded under earlier REIPPPP rounds. It has also participated in multiple wind energy projects in subsequent bidding rounds. These investments highlight the fund’s active role in advancing renewable energy infrastructure within the region.