{"id":556963,"date":"2021-09-01T04:14:09","date_gmt":"2021-09-01T04:14:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/amethis-hits-first-close-on-fund-with-big-egypt-earmark-amazon-inaugurates-10-ramadan-warehouse\/"},"modified":"2021-09-01T04:14:09","modified_gmt":"2021-09-01T04:14:09","slug":"amethis-hits-first-close-on-fund-with-big-egypt-earmark-amazon-inaugurates-10-ramadan-warehouse","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/amethis-hits-first-close-on-fund-with-big-egypt-earmark-amazon-inaugurates-10-ramadan-warehouse\/","title":{"rendered":"Amethis hits first close on fund with big Egypt earmark + Amazon inaugurates 10 Ramadan warehouse"},"content":{"rendered":"

<\/a> Amethis\u2019 new private equity fund has a big Egypt earmark, will see the firm open an office here: <\/strong>Africa-focused, Paris-headquartered private equity outfit Amethis could invest more than EUR 30 mn in Egyptian SMEs after it hit a first close of its second MENA fund, Enterprise understands. The firm this week announced<\/a> that it had reached an EUR 85 mn (USD 101) first close on its Amethis MENA Fund II (AMFII), 35-40% of which could be allocated to SMEs in Egypt, Amethis Investment Directors Toufic Khoueiry and Adnane Zerhouni told us.<\/p>\n

Who\u2019s in?<\/strong> The European Investment Bank<\/a> (EIB) and the European Bank for Reconstruction<\/a>and Development<\/a> (EBRD) have both committed EUR 20 mn, while the International Finance Corporation<\/a> (IFC) invested EUR 12.5 mn. Proparco is committed through the Agence Fran\u00e7aise de D\u00e9veloppement\u2019s Fisea+<\/a> facility.<\/p>\n

The fund will target high-growth SMEs in the healthcare, tech, manufacturing and <\/strong>services sectors<\/strong>, allocating EUR 5-15 mn for each investment. Rather than targeting startups, it is looking for more mature, profitable companies that are ready to take their growth to the next level, Zerhouni said. It is also looking at companies that are open to selling a majority stake of their business down the road, he added.<\/p>\n

The story so far: <\/strong>Until now, the fund has only invested in a single company, announcing in<\/a>March<\/a> an undisclosed investment in Magriser<\/a>, a Moroccan firm specialized in micro-irrigation systems. It is currently in advanced talks with several other companies, one of which is Egyptian, Khoueiry said, declining to disclose further information.<\/p>\n

This would be the firm\u2019s first investment in Egypt:<\/strong> While Amethis\u2019 first MENA-focused fund Amethis Maghreb Fund I focused on companies in Morocco and Tunisia, AMFII is targeting new markets in Egypt and Jordan.<\/p>\n

Amethis sees Egypt as an increasingly strategic market and is looking to open a local <\/strong>office<\/strong> thanks to its strong pipeline of opportunities, Khoueiry said, emphasizing the size of its market, its position in the region, its strong industrial base as well as Egypt being a prime recipient of private equity investment in North Africa. \u201cThe market is strategic enough that it warrants closer presence \u2026 we are actively looking to grow our presence there [Egypt].\u201d<\/p>\n

IN OTHER INVESTMENT NEWS-<\/strong><\/p>\n

<\/a> Amazon opens logistics facility, the first-of-its-kind in Africa, outside Cairo: <\/strong>Prime Minister Moustafa Madbouly was on hand yesterday for the opening of the facility in Tenth of Ramadan City, according to a Cabinet statement<\/a>. The 28k-sqm facility \u2014 the first of its kind in Africa \u2014 comes as part of Amazon\u2019s long-term plans to expand its footprint in Egypt and increase investment in the country\u2019s infrastructure, advanced technology and e-commerce sectors, while catering to Egypt\u2019s internet-based SMEs, VP of Amazon Middle East and North Africa Ronaldo Mouchawar said.<\/p>\n

The e-commerce giant is investing more than EGP 1 bn in the Egyptian market<\/strong>, and runs more than 15 goods delivery stations nationwide, contributing to the creation of at least 3k jobs, according to Mouchawar. Amazon had last year hinted<\/a> at exploring whether Egypt could be a hub for the manufacturing of its own-brand products and for exports to the wider region, saying it would also work on attracting more local manufacturers to Amazon\u2019s marketplace.<\/p>\n

And Amazon.eg is launching later this year<\/strong>, in a move<\/a> that ultimately will replace Souq as Amazon\u2019s Egypt selling platform. The e-commerce giant had operated in Egypt through Souq since it acquired<\/a> the Dubai-based online retailer in 2017. Vendors on Souq can now register<\/a> on the Amazon Seller Central to begin selling on Amazon.eg as soon as the site goes live.<\/p>\n

ALSO-<\/strong> The Housing and Development Bank (HDB) will contribute some EGP 12.5 <\/strong>mn for the construction of <\/strong>Elsewedy Technical Academy<\/a><\/strong>\u2019s (STA) third branch<\/strong> in Sadat City Industrial Zone under a cooperation protocol signed between the two sides yesterday, according to a statement picked up by Hapi Journal<\/a>. There are already two STA technical schools up and running in Egypt \u2014 both located in Tenth of Ramadan City \u2014 offering three-year preparatory school graduate certificates in technical education.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amethis\u2019 new private equity fund has a big Egypt earmark, will see the firm open an office here: Africa-focused, Paris-headquartered private equity outfit Amethis could invest more than EUR 30 mn in Egyptian SMEs after it hit a first close of its second MENA fund, Enterprise understands. The firm this week announced that it had […]<\/p>\n","protected":false},"author":1,"featured_media":556964,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[72,125,345,287],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-556963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseam","tag-investment-watch","tag-mena","tag-smes","wpautop","entry"],"acf":{"mongo_id":"99f31c32-8ffb-4c84-9dd6-8eabe64b9da7","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/9\/12.jpg","photo_position":"above","related_issue":[556959],"teaser":"","voice_url":""},"yoast_head":"\nAmethis hits first close on fund with big Egypt earmark + Amazon inaugurates 10 Ramadan warehouse - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/01\/amethis-hits-first-close-on-fund-with-big-egypt-earmark-amazon-inaugurates-10-ramadan-warehouse\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amethis hits first close on fund with big Egypt earmark + Amazon inaugurates 10 Ramadan warehouse\" \/>\n<meta property=\"og:description\" content=\"Amethis\u2019 new private equity fund has a big Egypt earmark, will see the firm open an office here: Africa-focused, Paris-headquartered private equity outfit Amethis could invest more than EUR 30 mn in Egyptian SMEs after it hit a first close of its second MENA fund, Enterprise understands. 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The consortium paid EGP 914.7 mn for 22.2 mn shares in an OTC transaction, Al\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553801,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/01\/your-top-5-pieces-of-business-and-economic-news-in-september-2021\/","url_meta":{"origin":556963,"position":1},"title":"Your top 5 pieces of business and economic news in September 2021.","author":"enterpriseam admin","date":"1 October 2021","format":false,"excerpt":"Your top 5 pieces of business and economic news in September: MNT-Halan closed what we believe is the largest fintech round ever to take place in MENA, raising c. USD 120 mn from a group of investors that includes financial services-focused PE house Apis, the UK\u2019s Development Partners International (DPI)\u2026","rel":"","context":"In "YOUR TOP 5"","block_context":{"text":"YOUR TOP 5","link":"https:\/\/enterpriseam.com\/egypt\/category\/your-top-5\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":584679,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/04\/dpi-amethis-acquire-minority-stake-in-pharma-player-marcyrl\/","url_meta":{"origin":556963,"position":2},"title":"DPI + Amethis acquire minority stake in pharma player Marcyrl","author":"enterpriseam admin","date":"4 April 2023","format":false,"excerpt":"Marcyrl has tripled its revenues over the past five years","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/120.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":608839,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/26\/ebrd-could-invest-usd-40-mn-in-spe-capitals-new-north-africa-focused-fund\/","url_meta":{"origin":556963,"position":3},"title":"EBRD could invest USD 40 mn in SPE Capital\u2019s new North Africa-focused fund","author":"enterpriseam admin","date":"26 October 2023","format":false,"excerpt":"The USD 350 mn fund will invest in mid-cap companies in Egypt, Morocco, and Tunisia","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/1316.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550170,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/ebrd-eib-could-commit-eur-35-mn-to-mediterrania-capitals-new-regional-fund\/","url_meta":{"origin":556963,"position":4},"title":"EBRD, EIB could commit EUR 35 mn to Mediterrania Capital\u2019s new regional fund","author":"enterpriseam admin","date":"17 October 2022","format":false,"excerpt":"The European Bank for Reconstruction and Development (EBRD) could commit EUR 20 mn to Malta-based impact investor Mediterrania Capital Partners\u2019 fourth fund, which will invest in mid-cap companies in Egypt, Morocco and Tunisia, according to EBRD\u2019s website. The lender is set to approve the investment by 30 November. The European\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/245.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564420,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/31\/tonight-amethis-closes-mena-pe-fund-global-stocks-hit-new-record-highs-as-crude-slumps-south-korean-defense-minister-in-town\/","url_meta":{"origin":556963,"position":5},"title":"TONIGHT: Amethis closes MENA PE fund + Global stocks hit new record highs as crude slumps; South Korean defense minister in town.","author":"enterpriseam admin","date":"31 August 2021","format":false,"excerpt":"Good afternoon, wonderful people. We hope hump day has been good to you and that you\u2019re ready for the downhill slide into the last weekend of summer.THE BIG STORIES TODAY- #1- Africa-focused private equity outfit Amethis has hit a USD 101 mn first close on a fund with a big\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556963","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=556963"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/556963\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/556959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/556964"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=556963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=556963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=556963"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=556963"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=556963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}