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The European Bank for Reconstruction and Development (EBRD) is considering an investment of up to €40 million in Amethis MENA Fund III, a new private equity vehicle focused on supporting the growth of small and medium-sized businesses across North Africa and parts of the Middle East.
According to project information released by the EBRD, the proposed commitment would make the bank one of the anchor investors in the fund, which is targeting total capital commitments of €200 million.
The fund is currently under review and has not yet received final approval from the development finance institution.
Amethis MENA Fund III plans to invest primarily in SMEs operating in Morocco and Egypt, while also pursuing selected opportunities in Tunisia and Jordan.
The fund will focus on businesses with strong growth potential and established business models that can benefit from both capital and strategic support.
The planned investment is part of EBRD’s broader strategy of strengthening private sector development and expanding access to alternative sources of financing for companies in emerging markets.
The bank is one of the largest institutional investors in private equity funds across the regions where it operates and regularly backs funds that support entrepreneurship, business expansion, and job creation.
Private equity funding remains relatively underdeveloped in many countries across the Middle East and North Africa, where SMEs often face difficulties accessing long-term growth capital through traditional banking channels.
Development finance institutions have increasingly turned to private equity funds as a way of channeling investment into businesses that can drive economic growth, innovation, and employment.
Amethis, a Paris-based investment firm focused on Africa and emerging markets, has built a track record of investing in mid-sized companies across the continent.
The launch of its third MENA-focused fund follows earlier investment vehicles that targeted businesses in the same region.
Beyond providing financing, the firm typically works with portfolio companies to improve governance, strengthen operations, and support long-term expansion strategies.
If approved, the EBRD’s commitment would represent up to 20 percent of the fund’s target size and could help attract additional institutional investors as fundraising progresses.
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