IFC invests €40m in Amethis fund

The IFC has announced a €40 million investment in the first close of the Amethis Fund III.

Amethis Fund III will provide essential growth capital to 10-12 medium-sized enterprises working in the healthcare, fast-moving consumer goods, infrastructure and energy, non-banking financial services, and manufacturing sectors. The fund will focus on companies in countries such as Côte d’Ivoire, Egypt, Kenya, Morocco, Mozambique, Senegal, and Tanzania.

IFC will make an equity investment of €40 million in the fund. In addition, the project includes a co-investment envelope of up to €30 million to enable IFC to co-invest in select companies alongside the fund.

”Medium-sized businesses are one of Africa’s major economic engines, creating jobs, promoting regional integration, and supporting the continent’s economic growth. Despite their potential, they often struggle to access the growth capital they need to scale. IFC’s investment in Amethis Fund III will help mobilise and catalyse much-needed equity to this critical class of companies across the continent,” said William Sonneborn, IFC global director for disruptive technologies, creative industries and funds.

The new investment is IFC’s third commitment to funds managed by Amethis Partners. In 2017, IFC invested €15 million in Amethis Fund II, a pan-African growth equity fund. In 2021, IFC committed €12.5 million to Amethis MENA Fund II, an SME-focused fund targeting investments in the MENA region.

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