Key Takeaways
- • MSMEDA, Egypt's Micro, Small and Medium Enterprise Development Agency, has joined the final close of Tanmiya Capital Ventures II, a $130 million fund.
- • The fund was established with the European Investment Bank, European Bank for Reconstruction and Development, International Finance Corporation and Egyptian-American Enterprise Fund.
- • MSMEDA's participation is part of its Fund of Funds programme, which channels domestic and international private capital into Egyptian startups and SMEs via private equity and venture capital managers.
- • The programme also supports emerging fund managers, broadening long-term financing for high-growth Egyptian companies.
Summary
Egypt's Micro, Small and Medium Enterprise Development Agency (MSMEDA) has participated in the final close of Tanmiya Capital Ventures II, a $130 million fund aimed at backing high-growth Egyptian companies, according to CairoScene. The fund was established alongside the European Investment Bank, the European Bank for Reconstruction and Development, the International Finance Corporation and the Egyptian-American Enterprise Fund.
MSMEDA said the investment forms part of its Fund of Funds programme, which is designed to channel more domestic and international private capital into Egyptian startups and small and medium-sized enterprises through private equity and venture capital managers. The programme also supports emerging fund managers and seeks to broaden the range of long-term financing available to companies with strong growth potential.
MSMEDA CEO Mostafa Ismail Hassan said the programme collaborates with experienced private equity and venture capital fund managers while supporting emerging managers, with the aim of encouraging greater flows of private capital into promising Egyptian companies. He added that Tanmiya Capital Ventures II is expected to provide both capital and specialised expertise to companies seeking to scale and create jobs.
Ahmed El Gendy, Managing Partner and Fund Manager, said the fund would focus on supporting Egyptian companies while demonstrating the capacity of the private sector to build and expand businesses. The article does not disclose the fund's specific portfolio targets or MSMEDA's individual commitment size.
MSMEDA said the investment forms part of its Fund of Funds programme, which is designed to channel more domestic and international private capital into Egyptian startups and small and medium-sized enterprises through private equity and venture capital managers. The programme also supports emerging fund managers and seeks to broaden the range of long-term financing available to companies with strong growth potential.
MSMEDA CEO Mostafa Ismail Hassan said the programme collaborates with experienced private equity and venture capital fund managers while supporting emerging managers, with the aim of encouraging greater flows of private capital into promising Egyptian companies. He added that Tanmiya Capital Ventures II is expected to provide both capital and specialised expertise to companies seeking to scale and create jobs.
Ahmed El Gendy, Managing Partner and Fund Manager, said the fund would focus on supporting Egyptian companies while demonstrating the capacity of the private sector to build and expand businesses. The article does not disclose the fund's specific portfolio targets or MSMEDA's individual commitment size.
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