APIS Growth Fund II (“APIS II”) is a development capital fund that targets financial service sectors in Africa and Asia (excluding China), raised by the manager Apis Partners LLP (“APIS”). The fund will invest in companies working in the financial services sector whose target segments will be: payments, credit and savings, insurance, financial sector technologies and capital markets
The project involves supporting the development of a fund that targets SMEs offering products and services for financial inclusion to underbanked or unbanked populations in the countries of operation.
This II fund has the following expected impacts:
- On the social front, the project should support some 9,000 direct and indirect jobs, including 3,000 held by women. The entire amount of the financing should be invested in financial inclusion projects targeting lower-middle income and low-income households.
- On the economic front, the project should contribute to the development of the private sector through the SMEs that will be targeted. These SMEs will be mostly mature and leaders in their market. The fund should help them scale up (geographical and/or product expansions).
This information is given at the time of signature, without prejudice to any developments in the operation/project