European Investment Bank commits to Apis fund
The European Investment Bank has disclosed an equity investment of $80 million in the Apis Growth Fund III.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
The European Investment Bank has disclosed an equity investment of $80 million in the Apis Growth Fund III, managed by Apis Partners.
Apis Growth Fund III has a target of $1 billion.
The fund provides equity financing to high growth companies active at all levels of the financial services sector. These include payments, credit and savings, insurance, technology enablers as well as service providers and capital markets, ultimately fostering financial inclusion in Africa and Asia.
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe now
Solid move by the EIB to back finacial inclusion infrastructure. The $80M into Apis Growth Fund III targeting the full fintech stack makes sense when payment and insurance access is still so fragmented across Africa. I watched a similar fund struggle with portfolio company coordination across markets a couple years ago, so curious if Apis has figured out the cross-border regulatory piece better this time around.