SIFEM Commits USD 20 Million to Apis Growth Markets Fund III
Zurich, December 9, 2024 – The Swiss development finance institution SIFEM, managed by responsAbility Investments AG, has announced a commitment of USD 20 million to Apis Growth Markets Fund III (AGMF III), a closed-end financial services fund targeting growth-stage opportunities in Africa, South Asia, and Southeast Asia.
Apis Partners LLP, the portfolio manager of AGMF III, will build on the track record of its predecessor funds, focusing on transformative financial inclusion by investing in innovative, tech-enabled financial services. The fund’s strategy aligns with SIFEM’s mission to promote sustainable economic growth, job creation, and market development in emerging markets. Through its investments, the fund aims to address structural barriers to financial access via solutions like cashless payments, embedded finance, and digital lending, enabling underserved populations to participate in the formal economy and contributing to SDGs 8 (Decent Work and Economic Growth), 9 (Industry, Innovation, and Infrastructure), and 10 (Reduced Inequalities).1
Catalyzing private sector capital into high-impact investments
Apis Partners, through its global presence and deep sector knowledge, has established itself as a leader in impact-driven investments in tech-enabled financial services. AGMF III has already garnered significant commitments from a broad range of institutional investors, with a strong base of development finance institutions including the International Finance Corporation (IFC), British International Investment (BII), the German Investment Corporation (DEG), and Swedfund.
Driving financial inclusion in emerging markets
This investment marks a continuation of SIFEM’s collaboration with Apis Partners, following its earlier investment in Apis Growth Fund I in 2015. By leveraging private sector capital from developed markets into emerging markets through an innovative co-investment structure with Apis Global Growth Fund III, AGMF III exemplifies a catalytic approach to mobilizing financial resources where they are most needed.
“SIFEM’s commitment to AGMF III underscores our confidence in Apis Partners’ ability to generate both financial returns and measurable social impact,” said Ralph Keitel, Head of Fund of Funds Investments at responsAbility Investments AG. “This investment reinforces our commitment to empowering underserved communities and building resilient financial ecosystems in emerging markets.”
Supporting scalable financial services companies
AGMF III is a growth private equity fund targeting USD 500 million of commitments. It aims to bridge the financing gap in emerging markets by supporting scalable and profitable businesses in sectors such as payments, credit and savings, insurance, and remittances.
About SIFEM SIFEM serves as Switzerland’s Development Finance Institution (DFI). Established in 2011 as a public limited company fully owned by the Swiss Confederation, SIFEM plays a key role in Switzerland's international cooperation strategy. SIFEM provides long-term financing to small and medium-sized enterprises (SMEs) in developing and emerging countries through local financial intermediaries. By doing so, SIFEM aims to reduce poverty while fostering sustainable, inclusive, and resilient economies. Its focus also extends to tackling the root causes of climate change and enhancing communities' resilience to its effects.
About responsAbility Investments AG responsAbility Investments AG is a leading impact asset manager specializing in private market investments across three investment themes. These themes directly contribute to the United Nations Sustainable Development Goals (SDGs): Financial Inclusion, to finance the growth of Micro & SMEs; Climate Finance, to contribute to a net zero pathway; and Sustainable Food, to sustainably feed an ever-growing population. All responsAbility investment solutions target specific measurable impact alongside market returns.
Since its inception in 2003, responsAbility has deployed over USD 16.3 billion in impact investments. With over 270 employees collaborating across 7 offices, as of 31 December 2024 the company manages USD 5.4 billion in assets across approximately 300 portfolio companies in around 70 countries. Since 2022, responsAbility has been part of M&G plc, the international savings, and investments business, and contributes to enhancing M&G’s capabilities in impact investing.
1responsAbility assessment of impact documentation by Apis Partners, https://apis.pe/returns-with-responsibility/. Please note that while we support the UN SDGs, we are not associated with the UN and our funds are not endorsed by them.
Contact
Richard Rogers
responsAbility Investments AG
+41 44 403 2151
media@responsability.com
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