{"id":648192,"date":"2017-05-30T03:59:08","date_gmt":"2017-05-30T03:59:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/30\/govt-launching-venture-capital-fund-to-restart-operations-at-idle-factories\/"},"modified":"2017-05-30T03:59:08","modified_gmt":"2017-05-30T03:59:08","slug":"govt-launching-venture-capital-fund-to-restart-operations-at-idle-factories","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/30\/govt-launching-venture-capital-fund-to-restart-operations-at-idle-factories\/","title":{"rendered":"Gov\u2019t launching venture capital fund to restart operations at idle factories"},"content":{"rendered":"

The government launched a venture capital outfit that will be focused on providing funding to struggling factories to get them to return to operations, Trade and Industry Minister Tarek Kabil said, according to Al Masry Al Youm<\/a>. The outfit will have a capital of EGP 150 mn and is funded by the Industrial Modernization Center, Ayadi, the National Investment Bank, and the Tahya Misr fund. Kabil says the government reviewed 135 cases of idle factories, fixed issues in 63 of them, and will have the new venture capital fund address the remainder. The fund will be managed by Hani Tawfik\u2019s Union Capital.<\/p>\n","protected":false},"excerpt":{"rendered":"

The government launched a venture capital outfit that will be focused on providing funding to struggling factories to get them to return to operations, Trade and Industry Minister Tarek Kabil said, according to Al Masry Al Youm. The outfit will have a capital of EGP 150 mn and is funded by the Industrial Modernization Center, […]<\/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":[7255],"tags":[72,131],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-648192","post","type-post","status-publish","format-standard","hentry","category-manufacturing","tag-enterpriseam","tag-manufacturing","wpautop","entry"],"acf":{"mongo_id":"536fc093-e2a4-49ae-8c2d-ac45c4409a5a","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[648161],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t launching venture capital fund to restart operations at idle factories - 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\/2017\/05\/30\/govt-launching-venture-capital-fund-to-restart-operations-at-idle-factories\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t launching venture capital fund to restart operations at idle factories\" \/>\n<meta property=\"og:description\" content=\"The government launched a venture capital outfit that will be focused on providing funding to struggling factories to get them to return to operations, Trade and Industry Minister Tarek Kabil said, according to Al Masry Al Youm. 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State-owned Ayady, the Tahya Misr Fund, the National Investment Bank, and BPE\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":646618,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/19\/union-capital-files-paperwork-to-establish-venture-capital-fund\/","url_meta":{"origin":648192,"position":1},"title":"Union Capital files paperwork to establish venture capital fund","author":"enterpriseam admin","date":"19 June 2017","format":false,"excerpt":"Union Capital filed paperwork to establish the venture capital fund to restart operations at idle factories to the Egyptian Financial Supervisory Authority (EFSA), Union Capital chairman Hani Tawfik tells Al Borsa. 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":645038,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/10\/efsa-approves-establishment-of-union-capitals-venture-capital-fund\/","url_meta":{"origin":648192,"position":2},"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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The agreement will see Union Capital providing financing packages to idle factories registered with the FEI, Union Capital Managing Director\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":631684,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/25\/hany-tawfik-resigns-as-ceo-of-union-capital-misr-venture-capital\/","url_meta":{"origin":648192,"position":4},"title":"Hany Tawfik resigns as CEO of Union Capital, Misr Venture Capital","author":"enterpriseam admin","date":"25 March 2018","format":false,"excerpt":"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\u2026","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":635857,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/14\/factory-bailout-fund-to-start-work-next-week\/","url_meta":{"origin":648192,"position":5},"title":"Factory bailout fund to start work next week","author":"enterpriseam admin","date":"14 December 2017","format":false,"excerpt":"The government\u2019s EGP 150 mn bailout fund will start financing the first phase of idle factories next week,Chairman of Tahya Misr Fund Mohamed Ashmawy said. The phase will include 3-5 projects in the poultry and plastics segments. 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