Apis Partners to launch new fund for investment in social impact companies

IFC proposes to invest up to $25 mn in equity, subject to a cap of 20% of total committed capital

Apis Partners, LLP (Apis), a specialist technology-enabled, financial services-focused private equity player, is launching a new $400 million fund that will invest in companies that make a social impact with products and services that enable financial inclusion in many countries including India.

IFC has proposed to invest up to $25 million in equity, subject to a cap of 20 per cent of the total committed capital.

IFC will also play a catalytic role as a development financial institution (DFI) investor via its stamp of approval to help the fund achieve first close and critical mass. It will also provide additional financing to investee companies through debt and equity co-investments.

The primary focus countries of the fund will include India, Cote d'Ivoire, Kenya, Morocco, Nigeria, South Africa, Indonesia, Pakistan and the Philippines.

The Fund's objective is to make mid-market growth equity investments in financial services and technology such as payments, credit and savings, insurance, technology enablers and service providers and capital markets in Africa and Asia.

The fund will focus on supporting growth-stage companies that require equity to expand their geographies and product range or to fund vertical integration.