BII invests in Apis Growth Markets Fund III
British International Investment has made a $40 million commitment to the Apis Growth Markets Fund III.
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British International Investment, the UK’s development finance institution and impact investor, has made a $40 million commitment to the Apis Growth Markets Fund III.
Apis Partners is a UK-based private equity firm investing exclusively in high-growth, capital-light, tech-enabled financial services businesses in countries such as Egypt, India, Indonesia, Kenya, Nigeria and South Africa.
It is the third time BII has backed an Apis fund. The partnership between BII and Apis dates back to 2015, when BII anchored Apis’ first fund with a $30 million commitment. It continued in 2019 with a $50 million investment in Apis’ second fund.
Dalia Aga-Shaw, director and head of financial services funds at BII said, “Apis has a proven track record of delivering impact by supporting the fintech sector. This new fund will provide vital capital to entrepreneurs as well as large businesses. The provision of services by Apis’ investee businesses will boost low-income households and create wider economic opportunities.”
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