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Amethis Fund II hits €375m final close

Africa Global Funds
June 20, 2019, 9:41 p.m.
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Amethis has announced the final close of its second Pan-African fund, Amethis Fund II, which collected €375m from more than 70 investors in Europe and Africa, exceeding its initial target of €300m.

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Amethis has announced the final close of its second Pan-African fund, Amethis Fund II, which collected €375m from more than 70 investors in Europe and Africa, exceeding its initial target of €300m.

Limited partners include existing Fund I investors and new investors, with close to 70 private investors, representing over 70% of all commitments.

This unique set up benefited from synergies with the Edmond de Rothschild Group’s network, which granted privileged access to qualified private investors.

Both the Edmond de Rothschild Group and Ariane and Benjamin de Rothschild’s family have renewed their trust and reinvested in the new fund.

Private investors count both family offices, individuals and institutional investors from Europe and the Mediterranean. Amethis is also proud to have earned the support of several Development Financial Institutions, representing 30% of the Fund’s commitment: CDC, European Investment Bank (EIB), the International Finance Corporation (IFC), Proparco, DEG, as well as Bpifrance, the French public investment bank.

Amethis Managing Partners Luc Rigouzzo and Laurent Demey stated: “We would like to thank the over 100 direct and indirect investors who have shown their commitment to Africa and to the Amethis team, to those who have kept supporting us and to the many newcomers. With our partner the Edmond de Rothschild Group, we will continue to support the dreams and vision of African entrepreneurs, by bringing them not only capital but also the access to a broad network of partners.”

Amethis Fund II follows the same investment strategy as Amethis Fund I by providing growth capital to African mid-cap champions, through investments with an average ticket size of €10-40m, or more through co-investment.

Amethis will continue being an active shareholder, supporting entrepreneurs by giving them access to Amethis’ international network and external growth opportunities, while improving their efficiency and governance.

A key priority for Amethis Fund II is also the implementation of a rigorous and ambitious environmental and social strategy.

Amethis Fund II aims for geographic and sector diversification, targeting sectors delivering goods and services to the middle class of African consumers: industry, distribution, consumer goods, financial services, telecommunications, health and education.

Amethis Fund II focuses on countries that have an economic growth driven by their strong domestic demand and that are resistant to global headwinds.

Johnny El Hachem, CEO of Edmond de Rothschild Private Equity, said: “Edmond de Rothschild has a long history in Africa and our partnership with Amethis over the last eight years which reflects our conviction about the opportunity this continent offers for responsible long-term investments.”

“As a strategic partner, we are convinced that Amethis has proved stability through its teams and proved the resilience of its strategy to accompany African entrepreneurs in developing sustainable growth and build regional champions. With this second fund, Amethis confirms its position as a key player on the African continent.”

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