APIS GROWTH FUND III

The project consists in a growth stage equity fund investing in companies providing innovative financial services solutions in Africa and Asia.

Through a participation in the Fund, the EIB will help the fund manager to further establish its position as an investor in the field of innovative provision of financial services. The fund will provide equity financing to high growth companies active at all levels of the financial services sector. These include payments, credit and savings, insurance, technology enablers as well as service providers and capital markets, ultimately fostering financial inclusion in Africa and Asia.

Through this operation, the EIB will provide much needed equity risk capital to innovative and digital companies that contribute to democratise access to more transparent and affordable financial services. This operation is expected to have a significant contribution to the digital sector in line with the Global Gateway's Digital investment priority, and to support private sector development, stimulate job creation, sustainable and inclusive growth as well as the development of the financial sector in the targeted geographical areas.

Across emerging markets, access to finance - in particular equity finance - and managerial advice are among the most prevalent barriers for the growth of small and mid-sized companies. The provision of growth capital and managerial support through private equity funds has proven an effective strategy to overcome this market failure.

Additionally, EIB's instrumental role in structuring matters and commitment to the fund is expected to ensure adherence to best market practice standards.

The EIB will ensure that the project meets the EIB's environmental, social and governance (ESG) standards. Furthermore, the fund manager has developed a fully integrated ESG management system to assess, manage and monitor ESG issues at all stages of the investment process.

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