Amethis raises €305m

The Paris-headquartered investment fund manager has held a first close for its second pan-African fund.

Amethis has held a first close for its second pan-African fund, Amethis Fund II, at €305 million. The fund, which had an initial target of €300 million, provides growth capital to companies based in Africa with an average ticket size of €10-30 million. It targets industrials, consumer goods, distribution, financial services, TMT, health and education. A final close is expected in May 2019.

The fund is supported by new and existing investors including the European Investment Bank, IFC, Proparco, Bpifrance and Axian Group.