{"id":566390,"date":"2021-06-16T14:00:26","date_gmt":"2021-06-16T14:00:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/nbe-banque-misr-bdc-to-launch-egp-1-bn-fund-of-funds-targeting-smes\/"},"modified":"2021-06-16T14:00:26","modified_gmt":"2021-06-16T14:00:26","slug":"nbe-banque-misr-bdc-to-launch-egp-1-bn-fund-of-funds-targeting-smes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/nbe-banque-misr-bdc-to-launch-egp-1-bn-fund-of-funds-targeting-smes\/","title":{"rendered":"NBE, Banque Misr, BdC to launch EGP 1 bn fund of funds targeting SMEs"},"content":{"rendered":"

<\/a> A consortium of the National Bank of Egypt , Banque Misr and Banque du Caire are <\/strong>planning to launch a fund of funds with an initial assets under management of EGP 1 bn<\/strong>, an unnamed source at BdC told Enterprise, confirming an earlier statement<\/a> by Deputy Chairman Yehia Abou El-Fotouh during a webinar. The three state-owned banks are working to finalize Financial Regulatory Authority approvals to launch the fund, the source added. NBE did not return a request for comment by dispatch time.<\/p>\n

Where will it invest?<\/strong> The fund plans to invest in SMEs in healthcare, education, fintech, agribusiness, renewables, fast-moving consumer goods as well as information and communications technology, the BdC source noted. The source declined to specify how many funds they were looking to back or the ticket size for each.<\/p>\n

Still unclear to us: <\/strong>Who\u2019s managing the fund of funds and whether it\u2019s going to pursue equity or debt opportunities.<\/p>\n

What\u2019s a fund of funds?<\/strong> In basic terms, a fund of funds (FoF) is one that chooses to invest in other funds \u2014 whether equity or debt \u2014 rather than individually vetting specific companies or debt issuances it may want to back. The fund managers to whom the FoF hands AUM are then trusted to generate returns that pass back to the managers of the fund of funds.<\/p>\n

NBE, Banque Misr and BdC contributed in April to the final close of a USD 28 mn <\/strong>Egypt-focused tech fund<\/a><\/strong> by VC firm Sawari Ventures. BdC also earlier announced in February plans to launch a number of investment funds for SMEs<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

A consortium of the National Bank of Egypt , Banque Misr and Banque du Caire are planning to launch a fund of funds with an initial assets under management of EGP 1 bn, an unnamed source at BdC told Enterprise, confirming an earlier statement by Deputy Chairman Yehia Abou El-Fotouh during a webinar. The three […]<\/p>\n","protected":false},"author":1,"featured_media":566391,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10033],"tags":[726,576,102,633,248],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-capital-markets","tag-banque-du-caire","tag-banque-misr","tag-capital-markets","tag-enterprisepm","tag-national-bank-of-egypt","wpautop","entry"],"acf":{"mongo_id":"6e8eae22-3c07-4eb5-b76f-474b4e898ad6","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/509.jpg","photo_position":"above","related_issue":[566386],"teaser":"","voice_url":""},"yoast_head":"\nNBE, Banque Misr, BdC to launch EGP 1 bn fund of funds targeting SMEs - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/nbe-banque-misr-bdc-to-launch-egp-1-bn-fund-of-funds-targeting-smes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NBE, Banque Misr, BdC to launch EGP 1 bn fund of funds targeting SMEs\" \/>\n<meta property=\"og:description\" content=\"A consortium of the National Bank of Egypt , Banque Misr and Banque du Caire are planning to launch a fund of funds with an initial assets under management of EGP 1 bn, an unnamed source at BdC told Enterprise, confirming an earlier statement by Deputy Chairman Yehia Abou El-Fotouh during a webinar. 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Partners in the fund include\u2026","rel":"","context":"In "Fintech"","block_context":{"text":"Fintech","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/fintech\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544897,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/27\/nbe-launches-egp-2-bn-sme-fund-of-funds\/","url_meta":{"origin":566390,"position":2},"title":"NBE launches EGP 2 bn SME fund of funds","author":"enterpriseam admin","date":"27 March 2022","format":false,"excerpt":"State-owned banks launch EGP 2 bn SME fund of funds: A group of banks and financial institutions led by the National Bank of Egypt (NBE) have launched Egypt\u2019s first fund of funds (FoF), which has reached a EGP 905 mn first close, the state-owned bank announced in a press release\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/360.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628110,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/25\/nbe-banque-misr-bdc-to-provide-ezz-steel-rolling-mills-with-egp-3-4-bn-syndicated-loan\/","url_meta":{"origin":566390,"position":3},"title":"NBE, Banque Misr, BdC to provide Ezz Steel Rolling Mills with EGP 3.4 bn syndicated loan","author":"enterpriseam admin","date":"25 June 2018","format":false,"excerpt":"The National Bank of Egypt, Banque Misr, and Banque du Caire are reportedly providing Ezz Steel Rolling Mills with a EGP 3.4 bn syndicated loan to finance the working capital of the company\u2019s Ain Sokhna facility, unnamed banking sources tell Al Shorouk. No further details were announced.","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":623287,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/25\/ezz-steel-rolling-mills-to-borrow-egp-2-5-bn-for-working-capital-expansion\/","url_meta":{"origin":566390,"position":4},"title":"Ezz Steel Rolling Mills to borrow EGP 2.5 bn for working capital, expansion","author":"enterpriseam admin","date":"25 October 2018","format":false,"excerpt":"Ezz Steel subsidiary Al Ezz Rolling Mills is near closing a EGP 2.5 bn loan agreement with five local banks to finance its working capital and expansion plans, a banking source said, according to Amwal Al Ghad. The banks include the National Bank of Egypt, Banque Misr, Banque du Caire,\u2026","rel":"","context":"In "Manufacturing"","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543816,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/20\/bdc-just-got-a-green-lending-boost\/","url_meta":{"origin":566390,"position":5},"title":"BdC just got a green lending boost","author":"enterpriseam admin","date":"20 February 2022","format":false,"excerpt":"Banque du Caire is getting USD 30 mn in \u201ctier-two\u201d capital investment under a financing agreement with the Green for Growth Fund (GGF), which is backed by German development bank KfW, among others, according to a press release (pdf). The facility is the GGF\u2019s first tier-two investment in Egypt, after\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/276.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=566390"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566390\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/566386"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/566391"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566390"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=566390"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=566390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}