EIB invests €20 million in Amethis Europe Expansion Fund to support European SMEs growing in Africa

This article is published in association with European Investment Bank.

• EIB invests in a new fund connecting European and African economies, helping European SMEs expand their activities on the continent.
• €20 million investment from the EIB alongside European partners to boost job creation and sustainable growth.
• A renewed partnership with Amethis, marking the fifth EIB investment with this leading impact-oriented private equity firm.

The European Investment Bank (EIB) signed a €20 million investment in the Amethis Europe Expansion Fund, a new private equity vehicle designed to support European small and medium-sized enterprises (SMEs) expanding their business in Africa, as well as in Europe and the Middle East. The initiative aims to strengthen economic ties between Europe and Africa, foster private sector development and promote sustainable and inclusive growth.

Amethis Europe Expansion will provide both growth capital and strategic support to help European companies establish in particular a local presence in Africa, through exports, partnerships, acquisitions, or direct investment. With a final fund size of €143 million, the fund benefits from strong European backing, including prominent private institutional investors and family offices as well as Bpifrance and COFIDES, under the Team Europe framework.

The operation is aligned with the European Union’s Global Gateway strategy, which promotes sustainable, high-impact investment cooperation between Europe and Africa.

“This new investment in Amethis Europe Expansion Fund reflects our commitment to fostering sustainable economic ties between Europe and Africa” said EIB Vice-President Ambroise Fayolle. He added: “By supporting European SMEs seeking to grow on the African continent, we are helping to unlock new opportunities for innovation, quality jobs and shared prosperity”.

Laurent Demey, Co-founder and Managing Partner of Amethis, said: “We are delighted to have our long-standing partner, the EIB, as a significant subscriber to this new innovative European strategy. The EIB’s commitment to this new Amethis strategy demonstrates the relationship of trust that has been built up over more than 10 years. The EIB’s support for this new strategy provides significant resources to support French and European SMEs in their international expansion, particularly in Africa, and create win-win partnership between the two continents”.

This marks the fifth EIB investment in an Amethis-managed fund, confirming a long-standing partnership between the two institutions. Since its creation in 2011, Amethis has become a key private equity player in Africa, backing local businesses to scale and thrive. With this new fund, Amethis now extends its impact by helping European companies take root and grow across African markets.

Background information  

EIB  

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. 

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.   

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.   

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average. 

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Amethis

Founded by Luc Rigouzzo and Laurent Demey, and a partner member of Edmond de Rothschild Private Equity, Amethis is an investment fund manager focused on the African and European continent. With assets under management exceeding 1.4 billion EUR and over thirty investments to date, Amethis provides growth capital to promising mid-sized champions across many sectors, offering growth support through its international network covering Europe and Africa. With seven offices in Paris, Abidjan, Casablanca, Nairobi, Cairo, cape Town and Luxembourg, the Amethis team comprises over 45 experienced professionals with strong regional and sectoral expertise.