In a joint announcement, Kris Peeters, Vice-President of the European Investment Bank (EIB), and Mahesh Parasuraman, Partner and Co-founder of Amicus Capital, revealed a significant development—the signing of an EIB investment totalling up to $40m in Amicus Capital Partners Fund II.
This private equity fund is strategically designed to bolster investments in Indian small and medium-sized enterprises (SMEs) spanning diverse economic sectors.
The infusion of EIB Global’s investment into Amicus Capital Partners II is positioned to harness the power of digitalization and technology, aiming to transcend geographic limitations. Focusing on digitalisation and market access investment themes, the fund is poised to target key sectors such as healthcare, consumer products and services, financial services, technology and business services, and specialty manufacturing.
Peeters said: “I’m delighted to announce this EIB support for Amicus Capital Partners Fund II, a fund that pursues a targeted investment strategy combining digitalisation and market access to foster inclusive economic growth across various sectors in India, in alignment with the strategic EU priorities in India.
“In a challenging fundraising environment, this investment promises high additionality, and will promote crowding-in and the diversification of the investor base.”
At its core, the fund endeavours to utilise digitalization and technology as strategic tools to overcome geographic barriers, enabling deeper market penetration. This involves a commitment to prioritising investments in digital-first business models, collaborating with companies to fortify their existing technology infrastructure, and assisting management in crafting clear digitalisation roadmaps to enhance the digital transformation of conventional businesses.
The fund’s strategic approach aligns seamlessly with the goals of the Global Gateway initiative. This initiative, championed by the EIB, seeks to support robust projects that enhance global and regional connectivity. It collaborates with partner countries to address the digital divide and integrate them into the broader global digital ecosystem.
The anticipated impact of Amicus Capital Partners Fund II extends beyond financial gains, aiming to assist local businesses in expanding their reach. By providing goods and services to underserved regions and populations, the fund aims to contribute to sustainable and inclusive growth.
Parasuraman said: “We are excited to bring the EIB on board as a key investor in the fund. This represents a significant milestone in our journey. The EIB’s participation will further catalyse private capital into Amicus Capital Partners II.
“The fund will leverage on the global investment experience of the EIB team to help Amicus Capital support middle-market companies in India in their digitalisation and market access efforts.”
