This archive report was first published on 13 December 2019.
December 13, 2019 - Apis Partners, a London-based investment fund, has successfully closed its Apis Growth Fund II at a hard-cap of $550 million, exceeding its initial target fund size of $400 million.
The fund received commitments from global banks, insurance companies, development financial institutions, fund of funds, pension funds, sovereign wealth funds, and family offices around the world.
Apis Growth Fund II aims to make equity investments of between $30 million and $50 million into financial services companies with a focus on capital-light financial services and financial technology companies across the growth markets of Africa, South Asia, and South East Asia.
The fund will build on the successful financial services strategy and track record of Apis Partners' predecessor fund, Apis Growth Fund I, which closed in 2016 with $287 million of total commitments.
Apis Growth Fund II has already invested in two companies: Tutuka, a leading global emerging markets independent issuer processor in Africa, and India's Coda Payments.
