Tech in Africa
Africa-focussed investment fund manager Amethis has closed EUR 85 million for the Amethis Mena Fund II targeting SMEs across MENA. AMFII has support from top development finance institutions such as Proparco via FISEA, the European Investment Bank (EIB), the International Finance Corporation (IFC), and the European Bank for Reconstruction and Development (EBRD).
Amethis Mena Fund II will target majority and minority investments ranging EUR 5-15 million from fast-growing SMEs in Egypt, Morocco, Tunisia, and Jordan. This is the second Athemis’ SME Mena fund and fifth overall fund.
The previous AMF 1, formerly NAV II, was a Maghreb SME fund that Amethis took over in 2018 turned around successfully. A large range of qualified private investors alongside the Edmond de Rothschild Group represent a third of the first closing.
In the press release, Luc Rigouzzo, and Laurent Demey, the co-founders described Amethis as an “important strategic milestone” building on our “strong presence in Morocco and existing strategy of backing successful entrepreneurs.”
AMF II has invested in Magriser a – Moroccan distributor of micro-irrigation systems. The fund will be led by Adnane Zerhouni, Wilfried Poyet, and Toufic Khoueiry who are well-versed in the region’s markets.
