Mediterranea lands EBRD as a limited partner in its fourth midcap fund: The European Bank for Reconstruction and Development (EBRD) has made a EUR 30 mn commitment to Malta-based impact investor Mediterrania Capital Partners’ fourth fund (MC IV), which will invest in mid-cap companies in Egypt, Morocco, and Tunisia, as well as sub-Saharan Africa.

Where’s it investing? The fund aims to invest up to EUR 350 mn in midcaps in sectors including education, financial services, healthcare, pharma, construction and consumer staples.

Other LPs are a who’s who of development finance institutions, including the International Finance Corporation, the European Investment Bank, FMO, Proparco, and DEG which together have committed EUR 95 mn.

The EBRD knows Mediterrania well: The lender has invested in the private equity firm’s previous two funds, which together have acquired stakes in 15 African SMEs and mid-cap companies over the past decade, recording aggregate annual revenues of EUR 1.5 bn, Mediterrania said in a press release. Cairo Scan is today the only Egyptian business in Mediterrania’s portfolio, according to its website. It acquired a 40% stake in the diagnostics company in 2018.

Remember: The European lender signed off on the investment in July.

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