Ametis Investment Fund Manager, in partnership with Edmond de Rothschild Private Equity, has completed the final closing of Ametis Fund III with a target size of €406 million, marking a major milestone for the Africa-focused private equity firm.
The acquisition marks the continuation of Ametis’ pan-African strategy, which has historically supported regionally-based mid-market companies in North, West, East and South Africa, providing growth capital and strategic support in governance, operations, ESG and scale. Previous funds backed companies such as West African equipment retailer Premium and Mozambican flour manufacturer Melek, as well as platform businesses with regional impact. In 2023, a consortium including Amethis acquired Netis, a pan-African telecommunications and energy infrastructure services provider active in more than 15 markets, offering services from tower maintenance to fiber optic deployment, highlighting the company’s role in expanding companies with infrastructure and energy-adjacent operations.
Fund III deepens this approach by placing energy at the center of its investment thesis and recognizing the sector as a fundamental enabler of Africa’s industrialization, infrastructure development and long-term economic growth. The fund will make selective investments in manufacturing, logistics, healthcare, infrastructure services, etc. that directly support energy development and industrial activities, and will make approximately 10 investments in African small and medium-sized enterprises with energy as their core. Typical investment sizes range from €25 million to €40 million.
Rather than focusing primarily on upstream oil and gas producers, Ametis Fund III is positioned to support local and regional companies that support Africa’s energy ecosystem. These investments often include local content players that provide engineering, logistics, maintenance, equipment, distribution, and specialized services that support the operations of large international and domestic oil companies.
By supporting these businesses, Ametis aims to strengthen local supply chains, preserve domestic values and improve the long-term resilience of Africa’s energy sector. Designed to generate both financial returns and social impact, Fund III follows a responsible investment approach, with part of the investment team’s incentives tied to achieving ESG goals. Through active ownership, Amethis works closely with management teams to strengthen governance, operational performance, and environmental and social standards, positioning its portfolio companies to meet the expectations of global partners and financiers.
Supporters include private investors, family offices, and leading development finance institutions such as the European Investment Bank, International Finance Corporation, Bpifrance, British International Investment, FinDev Canada, Swedfund, Proparco and KfW DEG, reflecting a strong interest in sustainable investing in Africa.
“Ametis Fund III embodies our shared belief that long-term, responsible investment can unlock extraordinary potential across Africa. We will not only deliver strong value creation, but also empower visionary entrepreneurs and build recovery across Africa. We are proud to support a platform that builds strong, future-ready businesses,” said Francois-Xavier Vucekovic, Chief Investment Officer at Edmond de Rothschild Private Equity.
Capital has already been deployed, with four investments signed or completed and additional transactions in advanced stages. Ametis said the fund will bring together global investors and African entrepreneurs to support business growth, job creation and broader economic development across the continent.
With Fund III, Amethis positions itself as a long-term partner in Africa’s energy value chain, supporting companies that enable the efficient operation of large-scale energy projects while building durable local production capacity. As deployment accelerates, energy-related investments are expected to take a decisive share of the portfolio, strengthening Ametis’ role at the intersection of private capital, industrial growth and sustainable development across Africa.
