EIB backs Egyptian mid-cap fund with $15mln

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The European Investment Bank is committing $15 million to Ezdehar Management‘s inaugural fund, the Egypt Mid-Cap Fund, bringing the total raised to date to $85 million. Ultimately, the fund is targeting $100 million in commitments, with a hard cap of $120 million.

EIB is the latest of a number of European DFI’s investing in the fund, joining CDC, the European Bank for Reconstruction and Development, and FMO on the fund’s roster of investors. A generalist fund, Egypt Mid-Cap’s strategy is to target growth capital opportunities in private companies and family enterprises in the North African country.

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