Amethis Finance‘s second Africa-focused private equity fund, which is currently being raised, is being considered by the IFC for a capital commitment. The development finance institution is mulling a €15 million investment in Amethis Finance II, a growth capital fund which is aiming to have raised €300 million (approximately $320 million) by final close.
The 10-year, closed-end fund will take a generalist sector approach, backing equity and equity-related investments in SMEs focused on the sub-Saharan region. Its strategy will be to purchase significant minority positions in businesses that are well-positioned for growth with the aim of turning them into regional champions.
As well as investment capital, Amethis will be investing management time in all the firms they back, helping to build value through improved performance and the implementation of ESG best-practices.
According to the Summary of Investment Information published on IFC’s website, the potential commitment is due to be reviewed for approval by the institution’s board on December 31st.