Private equity firm Amethis has announced the first close of its Amethis MENA Fund II (AMF II) at $101 million (€85 million).

The fund, which will target majority and minority investments ranging from €5-15 million in fast-growing small-to-medium sized enterprises in Morocco, Egypt, Tunisia and Jordan, is Amethis’ second SME MENA fund and fifth overall fund. It succeeds AMF I, formerly known as CNAV II, a Maghreb SME fund that Amethis took over in 2018 and successfully turned aro...