Amethis
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.
Amethis is a DIJON growth equity firm with €1.4B AUM, 30 active companies and 21 exits.
- ·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 companiesGeography breakdown
17 geographiesKey facts
Recent exits
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.
Amethis took Vicenne public in 2025 after 9 years.
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.
Amethis Fund IIIGrowth2026€406M6 assetsGrowth2026 · 0yr€406M6–
Unrealized
6 held| Company | Entry |
|---|---|
| Ademat Energy · Ivory Coast | 2026 |
| BH Holding Agriculture · Morocco | 2025 |
| Delta Chemicals | 2025 |
| OCS Business Services · Morocco | 2026 |
| Vertice MedTech MedTech · South Africa | 2026 |
| Zamara Holdings Limited Financials · Kenya | 2026 |
Amethis Europe ExpansionBuyout2023€150M5 assetsBuyout2023 · 3yr€150M5–
Unrealized
5 held| Company | Entry |
|---|---|
| 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 IIGrowth2022€150M9 assets1 exitsGrowth2022 · 4yr€150M91
Unrealized
9 held| Company | Entry |
|---|---|
| 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| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Globex Logistics · Morocco | 2022 | 2026 | Secondary | A.P. Møller Capital | – |
Amethis Fund IIGrowth2019€375M4 assets1 exitsGrowth2019 · 7yr€375M41
Unrealized
4 held| Company | Entry |
|---|---|
| Avacare Health Pharma · South Africa | 2021 |
| NMA Agriculture · Senegal | 2021 |
| Rogers Hospitality Hospitality · Mauritius | 2019 |
| SIBM Construction · Ivory Coast | 2022 |
Realized
1 exit| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| Naivas Consumer · Kenya | 2020 | 2024 | Trade Sale | IBL Group | – |
Amethis Maghreb Fund IGrowth2018€120M3 assets7 exitsGrowth2018 · 8yr€120M37
Unrealized
3 held| Company | Entry |
|---|---|
| Groupe Premium Construction · Morocco | 2018 |
| Magriser AgTech · Morocco | 2021 |
| Tarjama AI/ML · Jordan | 2021 |
Realized
7 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| CFG Bank Financials · Morocco | 2017 | 2022 | Trade Sale | Existing shareholders | – |
| CMGP Agriculture · Morocco | 2015 | 2018 | Secondary | Development Partners International (DPI) | – |
| Disway Tunisia Industrials · Tunisia | 2015 | 2023 | Trade Sale | Disway SA | – |
| Mutandis Consumer · Morocco | 2017 | 2018 | IPO | Public market (IPO Casablanca SE, Dec 2018) | – |
| Separator Business Services · Morocco | 2014 | 2020 | – | – | – |
| Vicenne MedTech · Morocco | 2016 | 2025 | IPO | – | – |
| WB Africa Business Services · Morocco | 2017 | 2024 | Secondary | H&S Invest Holding (partial 20%) | – |
Amethis Finance IGrowth2012€150M3 assets12 exitsGrowth2012 · 14yr€150M312
Unrealized
3 heldRealized
12 exits| Company | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|
| CDCI Consumer · Cote d'Ivoire | 2014 | 2019 | Secondary | Retail Holding | – |
| Chase Bank Kenya Financials · Kenya | 2013 | 2016 | Trade Sale | SBM Bank Kenya Limited | – |
| Ciel Finance Financials · Mauritius | 2015 | 2022 | Trade Sale | CIEL Limited | – |
| Dislog Group Consumer · Morocco | 2014 | 2019 | MBO | Founder | – |
| Fidelity Bank Ghana Financials · Ghana | 2014 | 2021 | Secondary | LeapFrog Investments | – |
| Merec Industries Agriculture · Mozambique | 2018 | 2025 | Trade Sale | Invictus PLC | – |
| Novamed Healthcare · Ivory Coast | 2015 | 2026 | Trade Sale | CNPS (Caisse Nationale de Prevoyance Sociale) | – |
| NSIA Financials · Ivory Coast | 2015 | 2024 | Trade Sale | Manzima Holding | – |
| Petro Ivoire Energy · Cote d'Ivoire | 2013 | 2018 | Secondary | Vantage Capital | – |
| Ramco Industrials · Kenya | 2014 | 2024 | Trade Sale | Ramco Inc. | – |
| Sodigaz Industrials · Burkina Faso | 2017 | 2021 | Secondary | AIIM | – |
| Velogic Logistics · Mauritius | 2013 | 2021 | IPO | Public 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.
Similar firms
Other private equity firms tracked on GP Intel.