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Amethis

Amethis

DIJON, France·Founded 2013··amethis.com

Amethis is a French private equity firm founded in 2012, managing over €1 billion in assets. It provides growth capital to promising mid-sized companies across Africa, Europe, and the Middle East, focusing on financial, environmental, and social sustainability.

AUM
€1.4B
Funds
6
vintages 2012–2026
Portfolio
30
Exits
21

Amethis is a DIJON growth equity firm with €1.4B AUM, 30 active companies and 21 exits.

Key takeaways
  • ·14 exits in the last 5 years · consistent DPI cadence.
  • ·Average hold across 21 realized deals: 6 years.
  • ·Fund cadence: ~3Y between vintages · last raise 2026.

Sector breakdown

51 companies
Financials
9 · 18%
Consumer
9 · 18%
Industrials
6 · 12%
Agriculture
4 · 8%
Business Services
4 · 8%
Energy
2 · 4%
MedTech
2 · 4%
Logistics
2 · 4%

Geography breakdown

17 geographies
Morocco
15 · 29%
Egypt
6 · 12%
Ivory Coast
5 · 10%
Kenya
5 · 10%
France
3 · 6%
Mauritius
3 · 6%
South Africa
2 · 4%
Cote d'Ivoire
2 · 4%

Key facts

HQDIJON, France
Founded2013

Recent exits

Globex

Amethis sold Globex to A.P. Møller Capital in 2026 after 4 years.

Amethis sold Novamed to CNPS (Caisse Nationale de Prevoyance Sociale) in 2026 after 11 years.

Vicenne

Amethis took Vicenne public in 2025 after 9 years.

Merec Industries

Amethis sold Merec Industries to Invictus PLC in 2025 after 7 years.

Coverage notes

6 funds tracked, 51 portfolio companies (30 active · 21 realized). Verified weekly from public filings and deal announcements.

Funds & portfolio

Every fund Amethis has raised, with its portfolio companies. Hand-checked from public filings.

6 funds
Amethis Fund III
Growth2026€406M6 assets

Unrealized

6 held
CompanyEntry
Ademat
Energy · Ivory Coast
2026
BH Holding
Agriculture · Morocco
2025
Delta Chemicals2025
OCS
Business Services · Morocco
2026
Vertice MedTech
MedTech · South Africa
2026
Zamara Holdings Limited
Financials · Kenya
2026
Amethis Europe Expansion
Buyout2023€150M5 assets

Unrealized

5 held
CompanyEntry
Capital Banking Solutions
Fintech · France
2023
EIF Expertise
Business Services · France
2025
Fidence
Financials · Luxembourg
2024
Groupe Office Automation
TMT · France
2022
HB Aesthetics
Consumer · Spain
2023
Amethis MENA Fund II
Growth2022€150M9 assets1 exits

Unrealized

9 held
CompanyEntry
ASK Gras Savoye
Financials · Morocco
2023
BBI
Data & Analytics · Egypt
2024
Delta Holdings
Industrials · Egypt
2025
Energy Transfo
Industrials · Morocco
2023
GlobalCorp Financial Services
Financials · Egypt
2022
Kazareen Textile Group
Consumer · Egypt
2025
Marcyrl
Pharma · Egypt
2023
Netis
Telecom · Morocco
2023
Tiba
Consumer · Egypt
2026

Realized

1 exit
CompanyEntryExitTypeBuyerMOIC
Globex
Logistics · Morocco
20222026SecondaryA.P. Møller Capital–
Amethis Fund II
Growth2019€375M4 assets1 exits

Unrealized

4 held
CompanyEntry
Avacare Health
Pharma · South Africa
2021
NMA
Agriculture · Senegal
2021
Rogers Hospitality
Hospitality · Mauritius
2019
SIBM
Construction · Ivory Coast
2022

Realized

1 exit
CompanyEntryExitTypeBuyerMOIC
Naivas
Consumer · Kenya
20202024Trade SaleIBL Group–
Amethis Maghreb Fund I
Growth2018€120M3 assets7 exits

Unrealized

3 held
CompanyEntry
Groupe Premium
Construction · Morocco
2018
Magriser
AgTech · Morocco
2021
Tarjama
AI/ML · Jordan
2021

Realized

7 exits
CompanyEntryExitTypeBuyerMOIC
CFG Bank
Financials · Morocco
20172022Trade SaleExisting shareholders–
CMGP
Agriculture · Morocco
20152018SecondaryDevelopment Partners International (DPI)–
Disway Tunisia
Industrials · Tunisia
20152023Trade SaleDisway SA–
Mutandis
Consumer · Morocco
20172018IPOPublic market (IPO Casablanca SE, Dec 2018)–
Separator
Business Services · Morocco
20142020–––
Vicenne
MedTech · Morocco
20162025IPO––
WB Africa
Business Services · Morocco
20172024SecondaryH&S Invest Holding (partial 20%)–
Amethis Finance I
Growth2012€150M3 assets12 exits

Unrealized

3 held
CompanyEntry
Afriwara
Consumer · Ivory Coast
2017
Boulos
Industrials · Nigeria
2015
Kenafric
Consumer · Kenya
2016

Realized

12 exits
CompanyEntryExitTypeBuyerMOIC
CDCI
Consumer · Cote d'Ivoire
20142019SecondaryRetail Holding–
Chase Bank Kenya
Financials · Kenya
20132016Trade SaleSBM Bank Kenya Limited–
Ciel Finance
Financials · Mauritius
20152022Trade SaleCIEL Limited–
Dislog Group
Consumer · Morocco
20142019MBOFounder–
Fidelity Bank Ghana
Financials · Ghana
20142021SecondaryLeapFrog Investments–
Merec Industries
Agriculture · Mozambique
20182025Trade SaleInvictus PLC–
Novamed
Healthcare · Ivory Coast
20152026Trade SaleCNPS (Caisse Nationale de Prevoyance Sociale)–
NSIA
Financials · Ivory Coast
20152024Trade SaleManzima Holding–
Petro Ivoire
Energy · Cote d'Ivoire
20132018SecondaryVantage Capital–
Ramco
Industrials · Kenya
20142024Trade SaleRamco Inc.–
Sodigaz
Industrials · Burkina Faso
20172021SecondaryAIIM–
Velogic
Logistics · Mauritius
20132021IPOPublic market (IPO Stock Exchange of Mauritius, Dec 2021)–

About Amethis

Amethis is a French private equity firm with €1.35 billion of assets under management as of December 2024, founded in 2012 and headquartered in Paris with additional offices in Dijon and selectively across Africa. The firm provides growth capital to promising mid-sized companies across Africa, Europe and the Middle East, focusing on financial, environmental and social sustainability themes with the platform positioned as a leading impact-aware emerging markets private equity investor.

Investment thesis

Amethis targets African, European and Middle Eastern mid-sized companies with equity tickets typically ranging from €15 million to €50 million per transaction. Sector focus spans Consumer, Financials, Healthcare, TMT, Industrials and Business Services, with particular depth in financial services and consumer-facing businesses serving emerging market consumer growth themes. The platform's sustainability-aware investment framework integrates environmental and social considerations alongside commercial financial return discipline.

Recent activity

Recent realised exits include Merec Industries (industrials, 2025), Naivas (consumer, 2024), NSIA (financials, 2024), Ramco (industrials, 2024) and WB Africa (business services, 2024), reflecting active distribution across the African and emerging markets portfolio. The platform tracks 6 funds, 29 active portfolio companies and 11 realised exits across the impact-aware emerging markets programme.

Frequently asked questions

What investment strategy does Amethis focus on?
Amethis focuses on Growth, Buyout strategies in the private equity space.
How many portfolio companies does Amethis have?
Amethis has 30 active portfolio companies and 21 completed exits and 6 funds tracked on GP Intel.
Where is Amethis headquartered?
Amethis is headquartered in DIJON, France.
What is Amethis's assets under management?
Amethis manages approximately €1.4B in assets under management.
When was Amethis founded?
Amethis was founded in 2013.
What sectors does Amethis invest in?
Amethis invests across Consumer, Healthcare, Financials, Business Services, Industrials, Energy, Software, TMT.
What are Amethis's recent exits?
Recent realized exits by Amethis include: Globex (2026) to A.P. Møller Capital; Novamed (2026) to CNPS (Caisse Nationale de Prevoyance Sociale); Merec Industries (2025) to Invictus PLC; Naivas (2024) to IBL Group; WB Africa (2024) to H&S Invest Holding (partial 20%); NSIA (2024) to Manzima Holding; Ramco (2024) to Ramco Inc.; Disway Tunisia (2023) to Disway SA.
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Last updated July 2026 · Sourced from public filings · Report an issue