{"id":582154,"date":"2023-03-02T00:00:00","date_gmt":"2023-03-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/eaef-wants-to-invest-up-to-usd-50-mn-in-egypt-this-year\/"},"modified":"2023-03-02T00:00:00","modified_gmt":"2023-03-02T00:00:00","slug":"eaef-wants-to-invest-up-to-usd-50-mn-in-egypt-this-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/02\/eaef-wants-to-invest-up-to-usd-50-mn-in-egypt-this-year\/","title":{"rendered":"EAEF wants to invest up to USD 50 mn in Egypt this year"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">EAEF looking to reinvest Auf Group sale proceeds in our food, healthcare<\/span><span style=\"font-weight:700\"> + <\/span><span style=\"font-weight:700\">agriculture sectors:<\/span><span style=\"\"> The <\/span><span style=\"\">Egyptian-American Enterprise Fund (EAEF) plans to reinvest some of the proceeds from its sale of a stake in local snackmaker <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/01\/adqs-agthia-now-owns-60-of-auf-group-89826\/\" style=\"\">Auf Group<\/a><\/span><span style=\"\"> <\/span><span style=\"\">in local businesses and funds<\/span><span style=\"\">, <\/span><span style=\"\">Vice President Cornelius Queen to<\/span><span style=\"font-weight:400;\">ld us yesterday. The fund wants to invest USD 20-50 mn in Egypt this year, and hopes to deploy up to USD 100 mn in total within the next two to three years, he said. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Food, agriculture, and healthcare are all on the menu:<\/span><span style=\"\"> The fund is in talks with funds and <\/span><span style=\"font-weight:400;\">companies of all sizes, he said, declining to disclose potential targets. The food, logistics, agriculture, and healthcare sectors are of particular interest, while emerging, first-time fund managers are also on the fund\u2019s radar, he added.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Auf exit:<\/span><span style=\"\"> <\/span><span style=\"\">EAEF had invested in Auf Group through its partnership with Tanmiya Capital <\/span><span style=\"\">Ventures (TCV), which alongside members of the Auf family <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/01\/adqs-agthia-now-owns-60-of-auf-group-89826\/\" style=\"\">sold 60% of the company<\/a><\/span><span style=\"\"> <\/span><span style=\"font-weight:400;\">to the ADQ-owned Emirati F&B company Agthia last year. EAEF declined to say how much it netted in the transaction, which valued Auf Group at some EGP 4.9 bn. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We may see more EAEF investment in TCV funds:<\/span><span style=\"\"> The firm acts as one of EAEF\u2019s fund <\/span><span style=\"font-weight:400;\">managers in Egypt and currently holds EAEF\u2019s remaining 10% stake in Auf Group as well as its stake in Tamweel Mortgage Finance. EAEF has invested a total of USD 30 mn in TCV transactions since 2019, and the fund wants to continue its support for the asset manager as it sets out to fundraise again, Queen told us.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">EAEF\u2019s year in review: <\/span><span style=\"\">The fund last year made a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/05\/algebra-ventures-nets-usd-100-mn-first-close-on-second-fund-83016\/\" style=\"\">fresh commitment<\/a><\/span><span style=\"\"> <\/span><span style=\"\">to Algebra Ventures\u2019 second fund<\/span><span style=\"\"> and made a commitment to private equity outfit <\/span><span style=\"\">Ezdehar Manage<\/span><span style=\"\">m<\/span><span style=\"\">ent, Chairman James Harmon wrote in the fund\u2019s annual <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/March2023__EAEF-Stakeholder-Letter-1.pdf\" style=\"\">letter to stakeholders<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/March2023__EAEF-Stakeholder-Letter-1.pdf\" style=\"\">(pdf)<\/a><\/span><span style=\"\">. Its total portfolio in Egypt now stands at around USD 500 mn following the three EGP devaluations over the past year. <\/span><span style=\"font-weight:400;\">EAEF has generated USD 200 mn in profits through its portfolio since 2015.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">** ICYMI-<\/span><span style=\"\"> We spoke to fund Chairman James Harmon in 2021 as part of our <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2021\/07\/15\/my-morning-routine-james-harmon-chairman-of-the-egyptian-american-enterprise-fund-47676\/\" style=\"\">My Morning<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2021\/07\/15\/my-morning-routine-james-harmon-chairman-of-the-egyptian-american-enterprise-fund-47676\/\" style=\"\">Routine<\/a><\/span><span style=\"font-weight:400;\"> series.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>EAEF looking to reinvest Auf Group sale proceeds in our food, healthcare + agriculture sectors: The Egyptian-American Enterprise Fund (EAEF) plans to reinvest some of the proceeds from its sale of a stake in local snackmaker Auf Group in local businesses and funds, Vice President Cornelius Queen told us yesterday. The fund wants to invest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":582155,"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":[7272],"tags":[2264,6724,72,125,7128,758,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-582154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-auf-group","tag-egyptian-american-enterprise-fund-2","tag-enterpriseam","tag-investment-watch","tag-ma-watch","tag-private-equity","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"7b8f5f9c-5cba-447d-81a4-1743d9f22e45","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/EGP-1600-px-1-1.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[582141],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.06ce679f-385d-468b-979e-48235e528096.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>EAEF wants to invest up to USD 50 mn in Egypt this year - 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\/2023\/03\/02\/eaef-wants-to-invest-up-to-usd-50-mn-in-egypt-this-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EAEF wants to invest up to USD 50 mn in Egypt this year\" \/>\n<meta property=\"og:description\" content=\"EAEF looking to reinvest Auf Group sale proceeds in our food, healthcare + agriculture sectors: The Egyptian-American Enterprise Fund (EAEF) plans to reinvest some of the proceeds from its sale of a stake in local snackmaker Auf Group in local businesses and funds, Vice President Cornelius Queen told us yesterday. 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Harmon announced that the EAEF joined Ezdehar to acquire\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":587704,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/31\/eaef-marks-10-years-and-more-than-usd-250-mn-of-investment-in-egypt\/","url_meta":{"origin":582154,"position":1},"title":"EAEF marks 10 years and more than USD 250 mn of investment in Egypt","author":"enterpriseam admin","date":"31 May 2023","format":false,"excerpt":"The fund is planning to deploy another USD 100 mn this year","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/527.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597991,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/12\/eaef-makes-its-first-investment-in-egypts-education-sector-with-significant-minority-stake-acquisition\/","url_meta":{"origin":582154,"position":2},"title":"EAEF makes its first investment in Egypt\u2019s education sector with significant minority stake acquisition","author":"enterpriseam admin","date":"12 May 2019","format":false,"excerpt":"M&A WATCH- EAEF makes its first investment in Egypt\u2019s education sector: Our friends at the Egyptian-American Enterprise Fund (EAEF) have acquired a significant minority stake in education management company Advanced Education for the Establishment, Management, and Ownership of Educational Facilities, according to a press release (pdf). The company, which manages\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598744,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/03\/helios-eaef-acquire-96-7-stake-in-misr-hytech\/","url_meta":{"origin":582154,"position":3},"title":"Helios, EAEF acquire 96.7% stake in Misr Hytech","author":"enterpriseam admin","date":"3 June 2019","format":false,"excerpt":"M&A WATCH- Helios, EAEF acquire 96.7% of Misr Hytech: Helios Investment Partners and the Egyptian-American Enterprise Fund (EAEF) have acquired a 96.7% stake in Misr Hytech, according to a statement. The acquisition was made through investment manager Lorax Capital Partners. \u201cWe are very excited about the great potential of this\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/291.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569878,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/10\/eaef-launches-its-inaugural-impact-report\/","url_meta":{"origin":582154,"position":4},"title":"EAEF launches its inaugural impact report","author":"enterpriseam admin","date":"10 March 2020","format":false,"excerpt":"Everything you need to know about the EAEF: The Egyptian American Enterprise Fund (EAEF) on Sunday released its inaugural report charting the social and economic impact the fund has had on Egypt. Since its founding in 2011, the EAEF has supported close to 5k jobs, seeded its PE firm Lorax\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558978,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/04\/fawry-microfinance-to-obtain-egp-310-mn-loans-from-eaef-banque-misr\/","url_meta":{"origin":582154,"position":5},"title":"Fawry Microfinance to obtain EGP 310 mn loans from EAEF, Banque Misr","author":"enterpriseam admin","date":"4 January 2021","format":false,"excerpt":"Fawry Microfinance greenlights EGP 310 mn debt to fuel expansion: Fawry subsidiary Fawry Microfinance is taking on an EGP 160 mn loan from the Egyptian-American Enterprise Fund (EAEF) and a EGP 150 mn credit facility from Banque Misr after the parent company\u2019s ordinary general assembly approved the terms on Thursday,\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/582154","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=582154"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/582154\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/582141"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/582155"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=582154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=582154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=582154"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=582154"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=582154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}