Key Takeaways
- • Metier, a private equity firm, has reinvested in South African fibre network operator Frogfoot and internet service provider Vox through its Metier Capital Growth Fund III (MCGF III), marking a continuation of its commitment to these companies over two decades.
- • Proparco is contributing US$20 million to the investment consortium led by Metier, alongside other co-investors including BIO (which committed USD 15 million in equity), as part of a broader capital raise for Frogfoot, Vox, and subsidiary Hypa.
- • Frogfoot operates open-access fibre infrastructure across South Africa connecting homes and businesses, while Vox provides connectivity, voice, data, cloud, and cybersecurity services to business, public-sector, and household customers.
- • The reinvestment will fund expansion into South Africa's underserved regions, with the consortium aiming to leverage operational synergies between the fibre and connectivity businesses to accelerate high-speed broadband deployment.
Summary
Private equity firm Metier has announced a reinvestment in two South African telecommunications companies, Frogfoot and Vox, through its Metier Capital Growth Fund III. The companies, which maintain separate operations but share the same shareholder base, represent a long-standing investment for Metier, which has backed both firms over the past two decades.
Frogfoot builds and operates open-access fibre networks providing infrastructure across South Africa, while Vox functions as an internet service provider serving business, public-sector, and household customers with services spanning connectivity, voice, data, cloud solutions, and cybersecurity. The consortium assembled to support this reinvestment includes Proparco, which is contributing US$20 million, and BIO, which committed USD 15 million in equity. Additional co-investors participate in the broader capital injection alongside Metier.
Grant Howarth, principal at Metier, stated that the firm is "proud to renew its commitment" to both companies and emphasized the intention to collaborate with existing leadership and new partners to leverage operational synergies. The capital will enable Frogfoot, Vox, and subsidiary Hypa to accelerate high-speed fibre broadband deployment into underserved regions across South Africa, with the consortium positioning the investment as having direct community impact through improved connectivity infrastructure.
Frogfoot builds and operates open-access fibre networks providing infrastructure across South Africa, while Vox functions as an internet service provider serving business, public-sector, and household customers with services spanning connectivity, voice, data, cloud solutions, and cybersecurity. The consortium assembled to support this reinvestment includes Proparco, which is contributing US$20 million, and BIO, which committed USD 15 million in equity. Additional co-investors participate in the broader capital injection alongside Metier.
Grant Howarth, principal at Metier, stated that the firm is "proud to renew its commitment" to both companies and emphasized the intention to collaborate with existing leadership and new partners to leverage operational synergies. The capital will enable Frogfoot, Vox, and subsidiary Hypa to accelerate high-speed fibre broadband deployment into underserved regions across South Africa, with the consortium positioning the investment as having direct community impact through improved connectivity infrastructure.
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