Al Baraka Capital and Invia to team up on sharia-compliant fund for small project financing: Al Baraka Bank’s Islamic financial services arm Al Baraka Capital and SME financing firm Invia will launch a new sharia-compliant investment fund focused on financing small companies concentrated in the industrial sector, Al Mal reports.

The fund aims to reach EGP 1 bn by the end of 2025: Dubbed the Small Projects Financing Fund, Al Baraka’s latest project has amassed EGP 200 mn to fund 20 industrial factories in its first phase, with the company aiming to reach EGP 400 mn by the end of 2024 and EGP 1 bn by the end of 2025, Managing Director Sarah Hosni told Al Masdar. The fund will be managed by Invia, which expects all rules and procedures for the fund to be completed during 1Q 2025.

Al Baraka Capital also has a sports-focused fund in the pipeline: Al Baraka is gearing up to launch a new sports-focused sharia-compliant fund in 2Q 2025, with Hosni telling Al Masdar that the company hopes to reach a total fund value of around EGP 2 bn within two years. The new fund plans to target investments in sports clubs, facilities, and youth centers, alongside sports medical centers, physiotherapy facilities, and sport-specific athletic clothes manufacturers/

Big sukuk issuances are also part of the plan: Al Baraka Capital is also currently working on three sukuk issuances worth EGP 9 bn, Hosni told Asharq Business, adding that two of the issuances will be for green bonds.

Invia also has some funding plans of its own: Invia is looking to lock up USD 1.5-3 mn in a new funding round that would launch next year, with the fintech company currently in conversation with investment funds, financing companies, and venture capital funds about contributing to the new round, CEO Yehia Ashour told Al Masdar.

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