Amethis has closed its Fund II funding vehicle at $101 million, with private investors as well as a number of development finance institutions being participants in the fund.
The fund had earlier in March, invested in a micro-irrigation and solar pumping industry in Morocco.
Amethis Mena Fund II is the company’s fifth fund and it is targeted at expanding SMEs in North Africa and the Middle East and also assisting them to take advantage of the expansion levelers that show development potential.
The fund, which aims to raise 120 million euros in total, has set July 2022 as its ultimate closure date, with numerous investors participating.
Amethis has planned various investment operations in the coming months for its North African fund, with primary target on SMEs and entrepreneurs in Egypt, Tunisia and Morocco.
These investments will range from 5 million euros to 15 million euros.
Speaking on the fund, Wilfred Poyet, who heads the team, said “Amethis Mena Fund II brings a real solution and a deeply entrepreneurial DNA to the development of SMEs as well as a response to succession issues encountered by managers.”
Amethis is an Africa-focused investment fund manager introducing growth capital to SMEs who have middle-size total value, show prospects of scaling and are in diverse sectors throughout Africa.
The platform uses its international network, value-added governance and opportunities of external growth to offer key support and expertise through its international network.
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