IFC considers investment in pan-African fund

The IFC has disclosed a proposed equity investment of up to €40 million into Amethis Fund III, a pan-African private equity fund.

The fund is targeting to raise €450 million to pursue growth capital and buyout investments in 10-12 mid-cap companies across Africa. The fund will invest in various sectors, including healthcare, non-banking financial institutions and services, business services (including logistics and IT), manufacturing and distribution.

Fund III is a successor fund to Amethis Fund II, a 2018 vintage with total commitments of €375 million, and Amethis Fund I, a 2012 vintage with total commitments of €275 million.