About This Fund
Amethis, the pan-African private equity firm co-founded by Luc Rigouzzo and Laurent Demey, completed the final close of its third flagship fund on 15 January 2026, raising EUR 406 million in line with its target. The fund is structured as a Luxembourg SICAV-RAIF (Amethis Fund III S.C.A., SICAV-RAIF), qualifies as an Article 9 fund under SFDR — the highest European sustainability classification — and is managed by Amethis Investment Fund Manager S.A. The platform's total assets under management exceed EUR 1.4 billion across all vehicles. The LP base includes prominent development finance institutions: the European Investment Bank (EIB), International Finance Corporation (IFC), Bpifrance, British International Investment (BII), and KfW DEG, alongside qualified private investors representing more than 40% of total commitments.
Amethis Fund III is the third vintage of the firm's flagship pan-African strategy, building on the proven track record of prior funds. The vehicle targets approximately ten investments in African small and mid-sized companies, deploying equity tickets of EUR 25 to EUR 40 million per company across majority and minority stake structures. Target sectors include manufacturing and distribution (including agribusiness), business services and logistics, technology and digital services, healthcare, and infrastructure and energy-related services. Each investment must demonstrate a clear impact orientation, with fund compensation directly tied to ESG-linked carry objectives measuring improvements in employment quality, gender equality, environmental performance, and governance standards.
Fund deployment was well advanced at the time of final close, with four investments already signed or closed and one additional transaction under exclusivity — a strong early deployment rate reflecting the quality of Amethis's deal pipeline and sector expertise built over fifteen years of investing across the African continent. The fund's Article 9 classification and ESG-linked carry mechanism represent the culmination of Amethis's long-standing commitment to responsible, long-term investment generating both financial returns and measurable positive impact for African businesses and communities.