Fund manager Amethis, in partnership with Edmond de Rothschild Private Equity, has announced the final close of Amethis Fund III (AFIII) at €406 million, marking a significant milestone for the firm’s pan-African investment strategy. AFIII is the third iteration of Amethis’ flagship fund series focused on Africa.
The vehicle aims to make approximately 10 equity investments in small and mid-sized African enterprises, deploying €25–40 million per transaction. The strategy continues Amethis’ mandate of supporting high-potential businesses that demonstrate strong governance, regional relevance, and scalable business models.
The fund has attracted a diverse and international base of investors. Its private investor pool includes major corporates, philanthropic foundations, and family offices, alongside financial institutions from North, West, and East Africa. This is complemented by substantial participation from global development finance institutions. Among the key DFIs committing capital are the European Investment Bank, International Finance Corporation, British International Investment, Bpifrance, and Proparco.
Additional backing comes from AECID, Swedfund, FinDev Canada, KfW DEG, the Development Bank of Austria, and the AfricaGrow fund, which is managed by Allianz Global Investors.
Reflecting on the close, François‑Xavier Vucekovic, Chief Investment Officer at Edmond de Rothschild Private Equity, stated:
Amethis Fund III embodies our shared belief that long-term, responsible investment can unlock Africa’s vast economic potential. We are proud to partner in a platform that not only generates strong value creation but also supports visionary entrepreneurs and strengthens resilient, future-focused businesses across the continent.
Amethis co-founders and managing partners, Luc Rigouzzo and Laurent Demey, expressed appreciation for the wide investor support, noting:
We warmly thank both our returning and new investors for their ongoing confidence in Amethis and its teams. Together with the entrepreneurs we work alongside, we are forging partnerships that create durable value, foster innovation, and contribute to the sustainable economic development of Africa.
