Swiss Investment Fund
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Apis Growth Fund I

Apis Growth Fund I is a USD 250m (target) fund with a focus on innovation in financial services in low and lower-middle income economies in Africa and South Asia (Nigeria, Ghana, Kenya, Ethiopia, South Africa, Tanzania, Morocco, India, Indonesia, Pakistan and Sri Lanka).

Apis Growth Fund I

Apis Growth Fund I is a USD 250m (target) fund with a focus on innovation in financial services in low and lower-middle income economies in Africa and South Asia (Nigeria, Ghana, Kenya, Ethiopia, South Africa, Tanzania, Morocco, India, Indonesia, Pakistan and Sri Lanka).

About the fund

Access to financial services are the backbone of the economic growth in most emerging countries. In particular in Sub-Saharan Africa and Asia, new financial technologies and deeper penetration of mobile devices provide opportunities that are revolutionizing the financial services industry. Apis Growth Fund I aims at building a more efficient and affordable financial infrastructure and at fostering financial inclusion of underserved MSMEs or financially excluded low-income populations.

The Fund is the first to be managed by the investment team of Apis Partners which was established in 2014. Significant minority positions with tickets between USD 20-40m will be invested in 8-12 established mid-market companies in financial infrastructure, financial intermediation and investment, insurance, and capital market segments. The fund has already made 2 investments, one in Africa and the other in South Asia.

“Apis Growth Fund I presents a strong opportunity for SIFEM to invest in a Fund that aims at fostering economic growth and financial inclusion, supporting sustainable job creation and promoting the integration of the target countries into the world economy. The Fund is expected to deliver attractive financial and development returns.” (Florian Kohler, Investment Manager Asia, Obviam)

Investments by the fund

             
Date Name Country Industry Status
2018 Company 1 South Africa Other financial services Active
2015 Company 2 France Other financial services Active
2016 Company 3 Kenya Other financial services Active
2019 Company 4 South Africa Other financial services Active
2016 Company 5 India Other financial services Active
2018 Company 6 Malaysia Other financial services Active
2017 Company 7 United States of America Renewable energy production and supply Active
2017 Company 8 South Africa Insurance Active
2016 Company 9 India Insurance Active
2016 Company 10 United Arab Emirates Other financial services Active
Reference code
2015-09
Status
Active
Date of commmitment
March 2016
Date of exit
-
Fund size
USD
250,000,000
SIFEM commitment
USD
10,000,000
Asset class
Private Equity
Investment strategy
Investment through Fund
Fund manager
Apis Partners