Apis Partners, an Africa- and Asia-focused private equity fund manager focused on financial services and fintech opportunities, has reached a final close for its second fund with USD563 million in capital commitments. Investors in the fund include global banks, funds of funds, pension funds, sovereign wealth funds, family offices, insurance companies such as Teachers Insurance and Annuity Association of America (TIAA), and development finance institutions including IFC, DEG, SIFEM, and OPIC. Apis Growth Fund II will make growth equity investments of USD30 million to USD50 million each in financial services companies based in Africa, South Asia, and Southeast Asia. The fund has already completed investments in South Africa-based payments enabler Tutuka and Singapore-based Coda Payments.