Ezdehar secures USD 15 mn for its Egypt mid-cap fund

INVESTMENT WATCH- The European Investment Bank (EIB) committed USD 15 mn to the Ezdehar Egypt Mid-Cap fund, Ezdehar’s inaugural fund, Al Masry Al Youm reports. EIB’s contribution raises the fund’s total capital raised to USD 85 mn. Ezdehar tells us its investor base includes the European Bank for Reconstruction and Development (EBRD), the CDC Group, the Dutch Development Bank (FMO), and other Egyptian businessmen and women. The Ezdehar Egypt Mid-Cap fund is a generalist fund eyeing growing Egyptian companies and family enterprises. It typically seeks to invest a minimum of USD 5 mn per transaction and to work closely with management teams in supporting scaling up their operations. Managing Director Emad Barsoum tells us Ezdehar is “building on Egypt’s large market and strong fundamentals, as well as the opportunity the mid-cap segment presents in terms of development and return on investment. Having the backing of leading global financial institutions and experienced Egyptian businessmen and women is a vote of confidence for the team and the Egyptian economy as a whole.”