Amethis Investment Fund Manager S.A., the alternative investment fund manager dedicated to responsible long-term growth across Europe, Africa and the Middle East, together with its partner Edmond de Rothschild Private Equity, are pleased to announce the final closing of Amethis Fund III S.C.A., SICAV-RAIF1 , (“AFIII” or “the Fund”) in line with its target at EUR 406M.
AFIII is the third vintage of Amethis’ flagship pan-African strategy. The Fund targets around 10 investments in African small and mid-sized companies with a clear impact-driven orientation, in majority or minority, around the continent's growth sectors (manufacturing & distribution (including agribusiness), business services (including logistics & technology), healthcare, infrastructure & energy related services) with tickets ranging from EUR 25 to 40M.
With AFIII, Amethis has strengthened its impact strategy, with targeted and measurable improvements in areas such as employment quality, gender equality, environmental performance, and responsible governance. The Fund is classified as "Article 9"2 under the EU’s Sustainable Finance Disclosure Regulation and was the first fund to pursue this approach on the African continent. This impact fund is structured with an ESG-linked carry mechanism, meaning that a portion of the investment team’s carried interest is contingent upon achieving predefined impact and sustainability objectives. This alignment of incentives reinforces Amethis’ commitment to generating both financial returns and tangible, positive outcomes for local economies and communities.
AFIII has benefited from the support of numerous private investors (including large corporates, foundations, and international family offices), among them several financial institutions from North, West, and East Africa. Alongside them, the Fund has also received backing from leading development institutions such as the European Investment Bank (EIB), the International Finance Corporation (IFC), , Bpifrance, the Spanish Agency for International Development Cooperation (AECID), Swedfund, FinDev Canada, British International Investment (BII), Proparco, KFW DEG, AfricaGrow managed by AllianzGI and advised by DEG Impact and the Development Bank of Austria (OeEB). The deployment of AFIII is well underway, with already four investments signed or closed and one additional transaction in the final stages under exclusivity. Amethis’ investment teams are currently assessing several opportunities across the African continent through a highly rigorous process designed to select only the most compelling deals, those that offer both strong impact potential and attractive financial returns.
Amethis aims to build strong bridges between global investors and African companies and entrepreneurs, helping channel capital where it can generate both sustainable growth and meaningful impact.
François-Xavier Vucekovic, Chief Investment Officer of Edmond de Rothschild Private Equity, commented : “Amethis Fund III exemplifies our shared conviction that long-term, responsible investment can unlock extraordinary potential across Africa. We are proud to support a platform that not only delivers strong value creation but also empowers visionary entrepreneurs and builds resilient, future-ready businesses throughout the continent.”
Amethis’ Co-Founders and Managing Partners Luc Rigouzzo and Laurent Demey stated: “We warmly thank our investors, both longstanding and new, for their continued trust in Amethis and its teams. Together with the entrepreneurs we are committed to supporting, we are building a mutually empowering collaboration that creates lasting value, fuels innovation, and contributes to the sustainable growth of the African continent.”
Khady Koné-Dicoh and Jean-Sébastien Bergasse, Senior Partners in charge of the AFIII strategy at Amethis, added: “We are proud of the renewed trust shown by our Fund II investors and of our ability to continue this momentum with a team that has strong on-the-ground experience and a strategy fully aligned with the realities and opportunities of the African continent.”
1. Amethis Fund III, SICAV-RAIF is an open-ended investment company with variable capital (SICAV) under Luxembourg law, in the form of a limited partnership with shares (SCA), and qualified as a reserved investment fund (RAIF). The Fund is closed to marketing and reserved for professional investors within the meaning of the MiFID Directive or investors who are able to invest a minimum amount in accordance with the regulations applicable in their country of marketing. The Fund presents risks of capital loss, risks related to the concentration of investments, liquidity risks, risks of default of the entities in which the Fund is invested. The AIFM of the Fund is AMETHIS INVESTMENT FUND MANAGER S.A., 404 Route d’Esch 1471 Luxembourg, Grand Duchy of Luxembourg.
2. Article 9 Fund under the Sustainable Finance Disclosure Regulation (SFDR): a fund whose objective is sustainable investment. SFDR classification: a fund’s investment policy may evolve over time and could therefore potentially lead to a change in its classification in accordance with SFDR.
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 across Europe, Africa, and the Middle East. With assets under management of over €1,4 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, Africa and the Middle East as well as systematic improvement of their environmental and social impacts. With seven offices in Paris, Abidjan, Casablanca, Nairobi, Cairo, Cape Town and Luxembourg, the Amethis team includes 55 experienced professionals with strong regional and sector expertise.
To learn more: www.amethis.com
About Edmond de Rothschild
Edmond de Rothschild is an investment house founded on the conviction that, when harnessed for the good of the real economy, wealth can have a meaningful impact and help to rejuvenate the concept of progress.
Driven by a culture of financial foresight for nearly three centuries, Edmond de Rothschild specialises in private banking and asset management, boasting recognised expertise in its main business lines of: wealth management, wealth engineering, life insurance, services for independent wealth managers, corporate finance, private equity, real estate, infrastructure, liquid strategies, and fund administration. The 100% family ownership structure gives the investment house real independence, serving to align with the interests of its clients and fostering the emergence of financial solutions adapted to the specific needs of a client base of families, entrepreneurs and institutional investors. At 31 December 2024, the Edmond de Rothschild Group had over CHF 184 billion in assets under management and a robust balance sheet with a CET1 of 19.7%. With more than 2,700 employees in 29 global locations, it ranks as a key player in the main markets where it operates, including Geneva, Luxembourg, Paris and Monaco.
Edmond de Rothschild is at the heart of a unique ecosystem of businesses ranging from farming, wine-making and hospitality to family philanthropic activities, the Gitana offshore racing team and the perfume house Caron.
Press contacts
Edmond de Rothschild
Fany de Villeneuve
+33 6 46 24 69 38
f.devilleneuve@edr.com
Amethis
Laura Cambe
+33 6 83 93 03 78
laura.cambe@amethis.com