Amethis raises €375m

The Paris-based private equity firm held a final close of its second fund.

Amethis held a final close of Amethis Fund II at €375 million ($419.76 million), exceeding its €300 million ($335.81 million) target. The fund will make long-term venture capital investments throughout Africa using capital committed by 70 investors throughout Europe and Africa.

Investors in the fund include European Investment Bank, International Finance Corporation, Proparco, BPI France and Axian Group. The fund will make individual investments of €10-40 million ($11.19-44.77 million) in each portfolio company.

The firm will target companies in African countries that have strong economic growth. Amethis currently manages €725 million ($811.54 million) in assets.