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The European Investment Bank (EIB) Global has committed to investing up to $40 million in the private equity fund Amicus Capital Partners Fund II, focusing on supporting small and medium-sized enterprises (SMEs) across various sectors in India.
Kris Peeters, Vice-President of the EIB, and Mahesh Parasuraman, Partner and Co-founder of Amicus Capital, officially announced the investment, emphasizing its goal of fostering digitalization and technology adoption within Indian SMEs.
The Amicus Capital Partners Fund II aims to harness the power of digitalization to overcome geographical constraints and enhance market penetration for SMEs. The fund adopts a strategic approach by prioritizing investments in digital-first business models. It collaborates closely with companies, strengthening their existing technology infrastructure and assisting management in developing clear roadmaps for digital transformation in traditional businesses.
The strategic direction of Amicus Capital Partners Fund II, utilizing digitalization to enhance market access across diverse economic sectors, is in harmony with the goals of the Global Gateway initiative, supported by the European Union (EU).
Expressing his satisfaction with the collaboration, EIB Vice-President Kris Peeters stated, “I’m delighted to announce this EIB support for Amicus Capital Partners Fund II, a fund that pursues a targeted investment strategy combining digitalization and market access to foster inclusive economic growth across various sectors in India, in alignment with the strategic EU priorities in India.”
In another statement, Parasuraman reiterated the excitement around bringing the EIB on board, emphasizing its role in catalyzing private capital into Amicus Capital Partners II. He highlighted the EIB’s global investment experience as a valuable resource that the fund plans to utilize in supporting middle-market companies in India as they navigate digitization and enhance their market access efforts.
As the largest multilateral public bank globally, the European Investment Bank (EIB) provides valuable support to projects by leveraging its in-house engineers and economists.
Offering attractive financial terms, such as competitive interest rates and project-aligned durations, the EIB, with its AAA rating, is a policy-driven EU financial institution. In collaboration with the European Union and other donors, the EIB often provides grants to enhance the development impact of various projects.
EIB Global, its arm dedicated to activities beyond Europe, facilitated around €10.8 billion in investments outside the European Union in 2022. Since its initiation in India in 1993, the EIB has endorsed 26 projects, contributing close to €5 billion in sectors like transport, energy, agriculture, fisheries, forestry, and support for SMEs.
EIB Global plays a crucial role in implementing the European Union’s Global Gateway initiative, focusing on sound projects that enhance global and regional connectivity across various sectors.
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