Lorax makes first investment for second fund

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Fresh from holding its first close for its second fund a couple of months ago, Lorax Capital Partners has struck its first deal for its second fund, LCP Fund II. The Cairo-based private equity firm is investing an undisclosed amount of capital to take a significant minority stake in DSQ Group which sells loyalty and rewards solutions to a base of local and international clients. As part of the round, existing investor Algebra Ventures invested more capital in the firm. Lorax gets a seat on the company’s board.

While the investment is primarily made up of a capital increase to support DSQ’s growth plans, part of the funding is being used to buy fellow-Egyptian private equity firm Ezdehar Management’s minority stake in the business, giving them an exit.

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