• Amethis enters active deployment of its €406m Africa fund, applying strict deal screening to balance financial returns with measurable impact.

• With €406m raised, Amethis targets mid-sized African firms in key sectors, backing scalable businesses with strong governance and impact metrics.

• Amethis ramps up selective investing across Africa, combining rigorous due diligence, impact-linked incentives and disciplined private equity returns.

Amethis’ investment teams are currently assessing several opportunities across the African continent through a rigorous process that selects only the most compelling deals—those combining strong impact potential with attractive financial returns. The approach comes as the private equity firm moves into the active deployment phase of its third Africa-dedicated fund. "Investment teams are currently assessing several opportunities across the African continent through a highly rigorous process. process designed to select only the most compelling deals, those that offer both strong impact potential and attractive financial returns", the company said

This update comes amid a recently completed fundraising for Amethis Fund III, which secured a total of €406 million and met the firm's initially set target. The fund was officially announced on January 15, 2026, in Paris and was raised in partnership with Edmond de Rothschild Private Equity. Its investor base includes private investors, large family offices, and international public institutions such as the European Investment Bank and Bpifrance.

The fund is designed to support around 10 mid-sized African companies, with individual investments ranging from €25 million to €40 million. Amethis focuses on sectors critical to the continent’s economic development, including healthcare, agribusiness, energy, and technology-enabled services. The strategy targets companies—often family-owned—with strong growth potential and the capacity to scale regionally.

According to Amethis founders Luc Rigouzzo and Laurent Demey, the fund’s ambition extends beyond financial performance. “We are building, together with the entrepreneurs we commit to support, a mutually accountable partnership that creates sustainable value, fuels innovation and contributes to the long-term growth of the African continent,” they said. The objective is to help portfolio companies adopt modern governance and management standards while strengthening their long-term competitiveness.

Impact at the core of the investment strategy

Amethis Fund III is positioned as an impact-driven investment vehicle. Each investment is expected to contribute to measurable outcomes, including improvements in job quality, gender equality, and environmental protection. The fund is among the first in Africa to have obtained the most demanding European sustainability classification. To reinforce accountability, part of the management team’s remuneration is directly linked to the achievement of predefined social and environmental objectives.

Deployment of the fund is already underway. Amethis has completed four transactions, including one signed deal and three fully closed investments. Current portfolio companies include Egypt-based Kazareen Textile Group, which manufactures garments and home textiles for export markets; Capital Bank Solutions, a provider of core banking software and digital solutions; and Morocco’s BH Holdings, a group specialised in the production and packaging of fruit for international markets.

According to Khady Koné-Dicoh and Jean-Sébastien Bergasse, who oversee the investment strategy, these investments reflect Amethis’ on-the-ground expertise and disciplined approach. “We are proud of our ability to maintain this momentum with a team that combines strong local experience and a strategy fully aligned with the realities and opportunities of the African continent,” they said.

An additional transaction is currently under exclusivity and progressing toward completion. With several opportunities still under review, Amethis Fund III has entered an active deployment phase well ahead of its final closing, as the firm continues to selectively bridge international capital with African entrepreneurship while balancing financial performance and measurable development impact.

Idriss Linge