Amethis Closes Third Pan-African Fund at €406 Million

The private equity firm’s latest fund signals sustained investor appetite for African SMEs, with a focus on mid-sized deals and long-term value creation across the continent.

Key points

• Amethis Fund III reaches final close at €406 million
• Fund to target 10 investments in African SMEs with €25–40 million tickets
• Backed by a diverse mix of private investors and development finance institutions

Fund manager Amethis and its partner Edmond de Rothschild Private Equity have closed their third pan-African fund at €406 million, the firms announced last January.

Amethis Fund III (AFIII) is the latest vintage of Amethis’ flagship pan-African investment strategy. The fund will target around 10 investments in small and mid-sized African companies, with ticket sizes ranging from €25 million to €40 million.

Diverse Investor Base Anchors Fund

AFIII attracted a broad roster of backers spanning private and institutional investors. Large corporates, foundations, and family offices joined financial institutions across North, West, and East Africa to support the fund.

Development finance institutions form a significant part of the investor base, including the European Investment Bank, the International Finance Corporation, British International Investment, Bpifrance, and Proparco. AECID, Swedfund, FinDev Canada, KfW DEG, the Development Bank of Austria, and the AllianzGI-managed AfricaGrow fund also committed capital.

Focus on Resilient, Scalable African Businesses

François-Xavier Vucekovic, chief investment officer of Edmond de Rothschild Private Equity, said the fund reflects a conviction that responsible long-term investment can unlock Africa’s potential.

« We are proud to support a platform that not only delivers strong value creation but also empowers visionary entrepreneurs and builds resilient, future-ready businesses throughout the continent, » he said.

Amethis co-founders and managing partners Luc Rigouzzo and Laurent Demey thanked both longstanding and new investors for their trust.

« Together with the entrepreneurs we are committed to supporting, we are building a mutually empowering collaboration that creates lasting value, fuels innovation, and contributes to the sustainable growth of the African continent, » they said in a joint statement.