Swedfund backs Amethis Fund III

Swedfund has invested €20 million in the Amethis Fund III, which is a private equity fund to further support the development of the private sector in Africa.

Swedfund said in a statement that it is a relatively small player with only two offices in Africa. Therefore, it is important that it can find good partners in the form of funds that have a large network around the entire African continent.

”The investment in Amethis Fund III means that we can reach many more companies that in turn can develop and reach out to more people around the African continent,” says Audrey Obara, regional director at Swedfund in East Africa.

* Subscribe to Africa Private Equity News’ monthly Dealmaker’s Log for a database of the reported investment deals, exits and fundraising closes. Click here for more information.