Montreal (Quebec), 13 May 2025 – Canada’s bilateral Development Finance Institution, FinDev Canada, announces a €20 million equity commitment to Amethis Fund III (“the Fund”), a generalist impact fund seeking growth equity investments in 9 to 12 mid-sized scalable enterprises in Sub-Saharan Africa. The Fund has a target size of €400 million and is managed by Amethis Investment Fund Manager SA (“Fund Manager”).
FinDev Canada’s commitment will enable Amethis Fund III to provide much-needed long-term financing to enterprises, which play a significant role in supporting regional economic development, creating long-term employment opportunities, and bridging financial gaps that support inclusive and sustainable development.
Additionally, it will help portfolio companies improve their assessment of greenhouse gas emissions and adopt carbon-efficient practices through capacity building initiatives. The Fund Manager aims to align Amethis Fund III to the goals of the Paris Agreement, thereby encouraging portfolio companies to support climate action through carbon footprint assessments, energy and climate data collection, and climate performance management.
The Fund Manager aims to integrate gender-lens into its capital allocation strategy by investing 30% of its portfolio to enterprises that enhance women’s economic participation. It seeks to increase women representation across employment and leadership opportunities and establish gender-inclusive employment policies within its operations.
Africa faces significant development challenges, particularly in access to financing, which impacts local enterprises and economic growth. With the population expected to reach 2.5 billion by 2050, addressing financial barriers becomes critical. Private equity investments can provide vital support to local enterprises that face challenges in accessing risk capital and remain excluded from financial markets.
“FinDev Canada is proud to work with Amethis Fund III to strengthen Africa’s private sector. This transaction aligns with our investment priorities, particularly in supporting local market development and advancing gender equality. Through this partnership, we look forward to expanding our impact, deepening our commitment for inclusive and sustainable development in the region,” said Lori Kerr, CEO, FinDev Canada.
"We are truly proud and honoured to welcome FinDev Canada within our investor community. Their commitment reinforces our shared vision of fostering sustainable and inclusive economic growth across Africa. This strategic partnership will further help us to support high-potential SMEs and mid-cap companies, creating quality jobs and strengthening local and regional value chains," commented Luc Rigouzzo and Laurent Demey, Managing Partners, Amethis.
About FinDev Canada
FinDev Canada is Canada’s bilateral Development Finance Institution (DFI), supporting development through the private sector. We provide financing, investment, and blended finance solutions, as well as technical assistance and advisory, to promote sustainable and inclusive growth in emerging markets and developing economies (EMDEs), in alignment with the Sustainable Development Goals (SDGs) and Paris Agreement commitments. Find out more about FinDev Canada at www.findevcanada.ca.
About Amethis
Founded by Luc Rigouzzo and Laurent Demey, and member of Edmond de Rothschild Private Equity Partnership, Amethis is an impact-oriented private equity firm focusing on financial, environmental and social sustainability on the African and European continents. With assets under management of over €1 billion, Amethis has made more than 40 investments to date.
Amethis provides growth capital to promising mid-sized champions in a variety of sectors, offering growth support through its international network covering Europe and Africa as well as systematic improvement of their environmental and social impacts. With six offices in Paris, Abidjan, Casablanca, Nairobi, Cairo and Luxembourg, the Amethis team includes more than 50 experienced professionals with strong regional and sector expertise.
To learn more: https://amethis.com/
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