Paris-based private equity firm Amethis is hard-closing its second Pan-African fund after having collected €375m of assets from over 70 European and African investors.
Amethis Fund II, which now closes to investors after exceeding its initial target of €300m, follows the same investment strategy than its predecessor fund Amethis I by providing growth capital to African mid-cap champions, through investments with an average ticket size of €10-40m.
The Fund aims for geographic and sector diversification, targeting sectors delivering goods and services to the middle class of African consumers: industry, distribution, consumer goods, financial services, telecommunications, health and education. It focuses on countries that have an economic growth driven by their strong domestic demand and that are resistant to global headwinds.
Amethis, founded by Luc Rigouzzo and Laurent Demey in partnership with the Edmond de Rothschild Group, manages two other funds, Amethis Fund I (Pan-African focus, €250m) and Amethis Maghreb Fund I (North African focus, €75m) and advises Amethis West Africa (West African focus, €45m).
The firm´s private investors count both family offices, individuals and institutional investors from Europe and the Mediterranean. It also has the support of several Development Financial Institutions, representing 30% of the fund's commitment: CDC, European Investment Bank (EIB), the International Finance Corporation (IFC), Proparco, DEG, as well as Bpifrance, the French public investment bank.
Amethis says it aims at bridging the gap between European private sector investors and African companies, creating a unique ecosystem and building bridges across sectors and regions, to the benefit of all stakeholders.