Lorax Capital to launch USD 250 mn SME PE fund

Lorax Capital to launch USD 250 mn private equity fund: The Egyptian American Enterprise Fund’s (EAEF) Lorax Capital Partners plans to launch a USD 250 mn private equity fund for long-term investment in Egyptian SMEs, the European Bank for Reconstruction and Development (EBRD) said on its website. “The [Lorax Capital Partners Fund II] will seek to achieve long-term capital growth by making equity and quasi-equity investments primarily in Egyptian small and medium-sized enterprises ("SMEs") and mid-cap companies,” the EBRD said. The bank will make an equity investment of USD 50 mn in the fund. Lorax Capital invests in a range of sectors in Egypt, and holds stakes in Sarwa Capital, Fawry, Misr Hytech, Orchidia, and Nermien Ismail Schools. The local press picked up the story.