Medu Capital was founded in February 2003.

As a private equity business, it commenced operation with a R300 million private equity fund ("Medu I"). Medu I has fully invested and exited all of its nine investments.

The second private equity fund, Medu II, was established in 2007 with capital commitments of R900 million. The fund is fully invested in eight portfolio companies.

Medu Capital's third private equity fund, Medu Capital Fund III, closed at over R1 billion in 2014.