MICROCAPITAL BRIEF: Private Equity Fund, Apis Partners, Raises $157m for Financial Technology Startups in Africa, South Asia

Apis Partners, a London-based private equity firm, has raised USD 157 million in investments for the Apis Growth Fund that it launched in 2014 to target technology firms working in payments, savings, investments, credit and insurance in Africa and South Asia. The investors include international banks Itesa Sanpaolo of Italy and Old Mutual of South Africa; government-backed development finance institutions CDC Group of the UK and Swedfund International AB of Sweden; and a number of private investors. The sizes of the individual investments have not been disclosed.

“We strongly believe that the next wave of business-model innovation in financial services will come from growth markets,” said Apis co-founder Matteo Stefanel. “As income in these markets continue to rise, so will demand for financial services, representing a unique opportunity for those entrepreneurs creating innovative and cost-effective solutions.”

By Mathew Cerf, Research Associate

About Apis Partners

Apis Partners is a London-based private equity asset manager focused on financial services in growth markets where there are still many “unbanked” people who lack financial services. One of the goals of Apis Partners is to promote the adoption of model environmental, social and governance (ESG) principles. Launched in 2014, the Apis Growth Fund is focused on financial technology in Africa and Asia. As of 2015, apis has raised USD 157 million for its growth fund.

Sources and Additional Resources

[1] Finextra, “PE Fund for African and Asian Fintech Startups Raises $150m”, http://www.finextra.com/news/fullstory.aspx?newsitemid=27705

[2] Apis Partners, “Investment Focus”, http://apis.pe/investment-thesis/

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