IFC/World Bank HQ. Photo: IFC
London-based private equity (PE) firm Apis Partners is in the market to raise $500 million for a new fund that will invest in South Asia, Southeast Asia, and Africa, with the International Finance Corporation (IFC) likely to come in as a limited partner.
In a disclosure, IFC, a member of the World Bank Group, said it is considering an investment of up to $60 million into Apis Growth Markets Fund III (AGF III), a PE fund that will make growth-stage investments in companies operating in the financial services and technology sectors in Asia and Africa.
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