{"id":631684,"date":"2018-03-25T04:11:26","date_gmt":"2018-03-25T04:11:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/25\/hany-tawfik-resigns-as-ceo-of-union-capital-misr-venture-capital\/"},"modified":"2018-03-25T04:11:26","modified_gmt":"2018-03-25T04:11:26","slug":"hany-tawfik-resigns-as-ceo-of-union-capital-misr-venture-capital","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/25\/hany-tawfik-resigns-as-ceo-of-union-capital-misr-venture-capital\/","title":{"rendered":"Hany Tawfik resigns as CEO of Union Capital, Misr Venture Capital"},"content":{"rendered":"

Hany Tawfik has stepped down as CEO of Union Capital and Misr Venture Capital \u2014 the EGP 150 mn bailout fund for idle small- and mid-sized factories \u2014 but will retain his position as a board member in both, he tells Al Borsa<\/a>. Tawfik submitted his resignation after completing the framework for restructuring idle factories, explaining that he is stepping aside to make way for fresh faces.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hany Tawfik has stepped down as CEO of Union Capital and Misr Venture Capital \u2014 the EGP 150 mn bailout fund for idle small- and mid-sized factories \u2014 but will retain his position as a board member in both, he tells Al Borsa. Tawfik submitted his resignation after completing the framework for restructuring idle factories, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[9298],"tags":[2372,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-631684","post","type-post","status-publish","format-standard","hentry","category-banking-finance","tag-banking-finance","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"2d5717ca-b3d0-4662-a1c6-777f90008935","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","full_issue_title":"Hany Tawfik resigns as CEO of Union Capital, Misr Venture Capital","related_issue":[631644],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.b2cfce16-915b-4aa3-a91b-340ee44f9c37.mp3"},"yoast_head":"\nHany Tawfik resigns as CEO of Union Capital, Misr Venture Capital - 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\/2018\/03\/25\/hany-tawfik-resigns-as-ceo-of-union-capital-misr-venture-capital\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hany Tawfik resigns as CEO of Union Capital, Misr Venture Capital\" \/>\n<meta property=\"og:description\" content=\"Hany Tawfik has stepped down as CEO of Union Capital and Misr Venture Capital \u2014 the EGP 150 mn bailout fund for idle small- and mid-sized factories \u2014 but will retain his position as a board member in both, he tells Al Borsa. 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Tawfik said he expects the company to be established after Eid holidays. The outfit will have a capital of\u2026","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":629939,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/04\/first-idle-factory-to-receive-egp-10-mn-in-funding-soon\/","url_meta":{"origin":631684,"position":2},"title":"First idle factory to receive EGP 10 mn in funding soon","author":"enterpriseam admin","date":"4 April 2018","format":false,"excerpt":"Misr Capital Ventures is preparing to begin funding the first idle factory on its list, board member and former CEO Hany Tawfik said yesterday, Youm7 reports. The company will provide the factory with EGP 10 mn in financing necessary for it to restart operations once due diligence is complete, Tawfik\u2026","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651472,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/13\/union-capital-bpe-partners-to-establish-company-to-manage-bailout-fund-for-factories-in-distress\/","url_meta":{"origin":631684,"position":3},"title":"Union Capital, BPE Partners to establish company to manage bailout fund for factories in distress","author":"enterpriseam admin","date":"13 February 2017","format":false,"excerpt":"Union Capital and BPE Partners (formerly Beltone Private Equity) are planning a bailout fund to invest in distressed factories, Al Borsa reports and will file paperwork with the Egyptian Financial Supervisory Authority for the fund next week, Union Capital CEO Hany Tawfik tells the newspaper.","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":652309,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/05\/bailout-fund-for-financially-distressed-factories-to-begin-work-by-march\/","url_meta":{"origin":631684,"position":4},"title":"Bailout fund for financially distressed factories to begin work by March","author":"enterpriseam admin","date":"5 January 2017","format":false,"excerpt":"A Trade Ministry fund, managed by Union Capital and BPE Partners, meant to provide assistance to factories in financial distress will not begin its work before March, Al Borsa reported. According to an Administrative Control Authority survey, only 170 factories of 1,600 factories tallied are expected to bounce back from\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":645038,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/10\/efsa-approves-establishment-of-union-capitals-venture-capital-fund\/","url_meta":{"origin":631684,"position":5},"title":"EFSA approves establishment of Union Capital\u2019s venture capital fund","author":"enterpriseam admin","date":"10 July 2017","format":false,"excerpt":"The Egyptian Financial Supervisory Authority (EFSA) gave Union Capital the green light to launch the venture capital fund meant to restart operations at idle factories, Al Mal reports. 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