(Ecofin Agency) - After the first investment in Morocco’s irrigation sector in March, Amethis Mena Fund II plans new investments in North Africa.

Amethis announced the first closing at $101 million of its fund that targets SMEs in MENA -Amethis Mena Fund II. The operation gathered several private investors and development financial institutions. “AMF II brings a real solution and a deeply entrepreneurial DNA to the development of SMEs, as well as a response to the succession issues that managers encounter,” said Wilfried Poyet, the Fund Leader.

The company plans to invest €5-15mln in SMEs mainly in Morocco, Egypt, Tunisia, and Jordan. This first closing comes five months after Amethis Mena Fund II’s first commitment in a micro-irrigation and solar pumping company in Morocco. The final closing is scheduled for July 2022, with the commitment of several investors.

According to the fund managers, Amethis Mena Fund II targets a region with definite development potential and hopes to help its partners and investors benefit from "identified growth levers" in this region.

Chamberline Moko