After making its initial investment in the irrigation industry in Morocco last March, Amethis Mena Fund II announces its first close with the participation of various international investors.
Amethis concluded at $101 million the first closing of its Amethis Mena Fund II vehicle, targeted on expanding SMEs in North Africa and the Middle East. For this operation, the fund gathered together private investors as well as a number of development finance institutions.
Several investment operations are planned for Amethis’ second North African fund in the coming months. With investments ranging from 5 to 15 million euros, it will primarily target entrepreneurs and SMEs in Morocco, Egypt, and Tunisia.
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“Amethis Mena Fund II brings a real solution and a deeply entrepreneurial DNA to the development of SMEs as well as a response to succession issues encountered by managers,” said Wilfried Poyet, who heads the team.
Amethis Mena Fund II’s first close comes five months after the fund’s first investment in a micro-irrigation and solar pumping startup in Morocco. The fund, which aims to raise 120 million euros in total, has set July 2022 as its ultimate closure date, with numerous investors participating.
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Keep in mind that Amethis Mena Fund II is the company’s fifth fund. This vehicle aims to assist its partners and investors in taking advantage of “the growth levers identified” in a region with “certain development potential.”
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Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer