Amethis and Edmond de Rothschild Private Equity have announced the first closing of Amethis Fund III at EUR140 million (US$156 million).

The fund will invest with impact in mid-sized companies in the most diversified economies of the African continent. Amethis Fund III strives to provide investors with appealing returns, portfolio diversification, and positive impact. Adopting a discerning geographical strategy, the fund aims to target majority and minority positions in key growth sectors, including healthcare, manufacturing and distribution (such as FMCG and agribusiness), business services (including logistics and IT), energy and infrastructure-related services, and non-bank financial services. The fund will pursue the impact strategy developed by Amethis by focusing on gender equality, quality employment (with a particular emphasis on health coverage), and climate considerations. 

Amethis Fund III’s final closing is scheduled for mid-2024 with a target size of EUR450 million (US$503 million).