Egyptian-American Enterprise Fund’s annual shareholders letter
Egyptian-American Enterprise Fund to announce first investments in education, agriculture: “We are excited about our pipeline and optimistic that EAEF will close a number of transactions this year. In the very near future, we will make our first investment in education and our first investment in agriculture. We continue to focus on sectors of high development priority concurrent with our work on long-term inclusive growth,” the Egyptian-American Enterprise Fund (EAEF) said in its annual shareholders letter (pdf). The year just-ended saw the fund sell c. 40% of its stake in structured- and consumer-finance player Sarwa Capital during the latter’s IPO, in addition to making a USD 3 mn investment in Dawi Clinics in November, EAEF said. Throughout the year, the EAEF’s portfolio companies — including Fawry and Orchidia Pharma Industries — delivered significant growth, while partners Algebra Ventures, TCV and Flat6Labs helped EAEF “address funding market gaps” in the country.