{"id":661794,"date":"2025-03-05T00:00:00","date_gmt":"2025-03-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/05\/whos-behind-the-countrys-first-pipe-fund\/"},"modified":"2025-03-05T00:00:00","modified_gmt":"2025-03-05T00:00:00","slug":"whos-behind-the-countrys-first-pipe-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/05\/whos-behind-the-countrys-first-pipe-fund\/","title":{"rendered":"Who\u2019s behind the country\u2019s first PIPE fund?"},"content":{"rendered":"

\n

FINTECH-<\/p>\n

E-finance b<\/strong>acks the country\u2019s first PIPE fund: <\/strong>State-owned fintech giant E-finance contributed EGP 250 mn to the country\u2019s first onshore private investment in public equity (PIPE) fund that was officially launched this week by CI Capital and Compass Capital \u2014 dubbed the C3 Capital Fund 1<\/a> \u2014 it said in a statement (pdf)<\/a>. The fund completed its first close after securing a total of EGP 1.8 bn in commitments \u2014 more than half of its EGP 3 bn target it is expected to reach by the final close \u2014 from institutional investors, family offices, and high-net-worth individuals. Backers also include Banque Misr, CIB, Suez Canal Bank, Misr Life Ins., and Midbank. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

REMEMBER-<\/strong> The fund is targeting 10-33%<\/a> stakes in undervalued EGX-listed firms to secure board seats and drive short- to medium-term growth. The fund plans to invest some EGP 1-1.5 bn in 4-6 EGX-listed companies this year, fund CEO Ahmed Hussein told Zaywa<\/a>. <\/p>\n

\n

M&A-<\/p>\n

FRA ext<\/strong>ends AXA\u2019s deadline for Delta Ins. takeover offer: <\/strong>The Financial Regulatory Authority (FRA) has granted AXA Egypt<\/a> a 60-day extension to submit a mandatory offer for its planned takeover of Delta Ins.<\/a>, according to an FRA disclosure (pdf)<\/a>. The original offer period was due to expire yesterday. <\/p>\n

REMEMBER-<\/strong> In December of last year, the company registered its interest<\/a> to buy up to 100% of the Egypt Kuwait Holding (EKH) subsidiary at an estimated EGP 5 bn valuation with plans to merge Delta Ins. into its Egypt operations. Meanwhile, Delta received a competing bid from Morocco\u2019s Wafa Assurance<\/a> proposing to acquire up to 100% of the company at the same estimated valuation.<\/p>\n

\n

MANUFACTURING-<\/p>\n

Hyundai <\/strong>Rotem, NERIC <\/strong>to roll out new metro trains soon:<\/strong> South Korean railway equipment manufacturer Hyundai Rotem and the National Egyptian Railway Industries Company (NERIC) will kick off the production of 40 metro trains for lines 2 and 3 of the Cairo Metro by mid-2025, Asharq Business<\/a> reports, citing sources it says are in the know. The consortium plans to deliver the first seven trains in 2026, with a two-year warranty and eight years of maintenance for the trains.<\/p>\n

We knew this was coming: <\/strong>Hyundai Rotem and NERIC signed a USD 656 mn agreement<\/a> back in 2022 to locally produce 40 trains with 320 carriages for Cairo\u2019s metro lines, with an initial MoU signed a year prior, as part of the government\u2019s plan to localize the railcar manufacturing industry. <\/p>\n

\n

EVS-<\/p>\n

Local manufacturer <\/strong>Engineering Industrial Group (INDE)<\/a><\/strong> plans to begin producing <\/strong>electric cargo tricycles this year<\/strong>, a company official told Al Mal<\/a>. The company aims to produce at least 2k tricycles \u2014 with a local component ratio of over 65% \u2014 annually for the local market and export, before doubling production at a later stage. INDE has reportedly already begun promoting the model in African markets and is set to upgrade its production lines to accommodate its manufacture, expanding beyond its current production of fuel-powered tricycles.<\/p>\n

\n

SMEs-<\/p>\n

EBRD laun<\/strong>ch<\/strong>es SME support program with the central bank, EBank: <\/strong>The European Bank for Reconstruction and Development (EBRD) introduced the SME National Champions Program in collaboration with the Central Bank of Egypt, Export Development Bank (EBank), and other local financial institutions, according to a statement from the lender. The program has the stated aim to \u201caccelerate the growth of high-potential SMEs\u201d by offering training, mentoring, and networking. The initiative will also lean on EBank\u2019s Export Club program to help the companies expand into new markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS- FRA extends AXA\u2019s deadline for Delta Ins. takeover offer<\/p>\n","protected":false},"author":1,"featured_media":661795,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7209],"tags":[111,429,102,271,136,339,571,72,356,2371,418,181,131,595,287,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-661794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-axa-egypt","tag-capital-markets","tag-central-bank-of-egypt","tag-ci-capital","tag-e-finance","tag-ebrd","tag-enterpriseam","tag-evs","tag-export-development-bank-of-egypt","tag-hyundai-rotem","tag-insurance","tag-manufacturing","tag-non-banking-financial-services","tag-smes","tag-transport","wpautop","entry"],"acf":{"mongo_id":"a46fec38-2f1e-45df-b14f-419879445820","order":"8","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/2641.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Who\u2019s behind the country\u2019s first PIPE fund?","related_issue":[661781],"teaser":"PLUS- FRA extends AXA\u2019s deadline for Delta Ins. takeover offer","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.13dcf0ec-899f-4109-82a9-3e473886d7bc.mp3"},"yoast_head":"\nWho\u2019s behind the country\u2019s first PIPE fund? 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The fund will be looking to acquire stakes of between\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/419.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":625020,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/25\/sawari-ventures-to-launch-egp-1-bn-fintech-fund-by-year-end-pending-cbe-approval\/","url_meta":{"origin":661794,"position":2},"title":"Sawari Ventures to launch EGP 1 bn FinTech fund by year-end pending CBE approval","author":"enterpriseam admin","date":"25 September 2018","format":false,"excerpt":"**#6 INVESTMENT WATCH- Sawari Ventures to launch EGP 1 bn fintech fund by year-end: Sawari Ventures will launch its EGP 1 bn fintech-focused venture capital fund by the end of this year or early next year, depending on the timing of approvals it needs from the central bank, Al Mal\u2026","rel":"","context":"In "Speed Round"","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":568592,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/28\/cbe-to-launch-egp-1-bn-fintech-fund-in-2q2020\/","url_meta":{"origin":661794,"position":3},"title":"CBE to launch EGP 1 bn fintech fund in 2Q2020","author":"enterpriseam admin","date":"28 January 2020","format":false,"excerpt":"Egypt\u2019s first fintech fund slated to open 2Q2020: The Central Bank of Egypt\u2019s (CBE) EGP 1 bn fund to support fintech startups will be launched in the second quarter of this year, Al Mal reported, quoting a CBE report. The fund, which was initially expected to be up and running\u2026","rel":"","context":"In "Speed Round"","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":544897,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/27\/nbe-launches-egp-2-bn-sme-fund-of-funds\/","url_meta":{"origin":661794,"position":4},"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":647107,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/02\/ci-capital-to-launch-egp-50-mn-equities-fund-in-2h2017\/","url_meta":{"origin":661794,"position":5},"title":"CI Capital to launch EGP 50 mn equities fund in 2H2017","author":"enterpriseam admin","date":"2 May 2017","format":false,"excerpt":"CI Capital is in talks with an unnamed bank to set up a new EGP 50 mn equities fund, the investment bank\u2019s Head of Asset Management Amr Abol Enein told Al Mal. He says CI Capital is looking to launch the fund in 2H2017.","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/661794","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=661794"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/661794\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/661781"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/661795"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=661794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=661794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=661794"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=661794"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=661794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}