European LP commits $20m to Apis Growth Markets Fund III
SIFEM, managed by responsAbility Investments, has announced a commitment of $20 million.
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The Swiss development finance institution SIFEM, managed by responsAbility Investments, has announced a commitment of $20 million to Apis Growth Markets Fund III (AGMF III), a closed-end financial services fund targeting growth-stage opportunities in Africa, South Asia, and Southeast Asia.
Apis Partners, the portfolio manager of AGMF III, will build on the track record of its predecessor funds, focusing on transformative financial inclusion by investing in innovative, tech-enabled financial services.
AGMF III has already garnered significant commitments from a broad range of institutional investors, with a strong base of development finance institutions, including the International Finance Corporation (IFC), British International Investment (BII), Germany’s DEG, and Swedfund.
This investment marks a continuation of SIFEM’s collaboration with Apis Partners, following its earlier investment in Apis Growth Fund I in 2015.
“SIFEM’s commitment to AGMF III underscores our confidence in Apis Partners’ ability to generate both financial returns and measurable social impact,” said Ralph Keitel, head of fund of funds investments at responsAbility Investments. “This investment reinforces our commitment to empowering underserved communities and building resilient financial ecosystems in emerging markets.”
AGMF III targets $500 million of commitments.
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