Private equity firm Morpho Investments’ inaugural fund has reached a first close of USD 55 mn, almost double its initial target, according to a statement (pdf). The fund — dubbed Morpho Fund I — was supported by a group of local and regional “high-net-worth” family offices and institutional investors. The fund will target companies across the Middle East and Africa, with around 60% allocated to Egyptian companies, Co-Founder and Managing Partner Ihab Rizk told EnterpriseAM.

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A fast close: The firm reached first close in less than half the time originally projected — it initially aimed to raise USD 30 mn in 18-36 months, but it hit its first close in six months, Co-Founder and Managing Partner Ayman Soliman told EnterpriseAM.

About Morpho: Morpho Investments is a firm focused on supporting “transformative growth” in the Middle East and Africa. It offers businesses minority growth capital to expand across markets, diversify their revenue streams, and manage economic risks.

Key sectors: The PE focuses on “sectors underpinning real economic growth, such as manufacturing, food, logistics, healthcare, and enabling industries that facilitate crossborder trade and integration,” the release said.

Big names in the driver’s seat: Regular readers of EnterpriseAM will recognize both names — Soliman was the founding CEO of the Sovereign Fund of Egypt (SFE), prior to that he held roles at Gemini Holding and EFG Hermes and Rizk was the investment director of education, agriculture, and food at the SFE.

More than just financing: Besides financial investment, the firm provides businesses with strategic support, operational insights, and access to sector expertise. The firm identifies entrepreneurs who have successfully built businesses in emerging markets and helps them replicate their models in new markets or verticals. “We leverage the know-how of successful business owners who became champions and benchmarks in their sectors,” Soliman said, adding that they “provide them with growth capital to replicate that cookie-cutter approach,” which enables expansion with minimal additional investment by monetizing talent and knowledge.

The exit strategy: Morpho’s preferred exit strategy is through public markets, but it’s also open to strategic sales, for example, by helping a local player expand into Saudi Arabia or from Saudi Arabia to Morocco, and then exiting through listings in those markets, Rizk told us.

What’s next? The PE will get started on Morpho Fund I’s second close in 4Q 2025, Rizk told us. It also plans to expand its limited partner base after 3Q this year, with a focus on attracting investors from across the MENA region.

What they said: “At Morpho, we are committed to a hands-on partnership approach. Growth capital must go beyond financial investment to help founders and management teams build capabilities, expand intelligently, and prepare businesses to thrive across diverse markets. Our goal is to support companies in creating sustainable value and writing regional success stories that endure through cycles,” Rizk said.

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