Back to the complete issue
Thursday, 28 October 2021

EBRD commits USD 25 mn to Ezdehar’s second fund

The European Bank for Reconstruction and Development (EBRD) will be a limited partner in Ezdehar’s Egypt Mid-Cap Fund II, joining the first close of the fund with a USD 25 mn commitment, the DFI announced yesterday. The fund has a target size of USD 150 mn. Private equity outfit Ezdehar founder and Managing Director Emad Barsoum told us last month that the fund expects to reach its first close by November, with a second and final close likely to take place in 1Q2022.

Ezdehar had originally targeted a USD 200 mn fund with two closes of about USD 100 mn each. The new fund will focus on manufacturing, pharma, healthcare, consumer goods, F&B and education, Barsoum previously told us.

Among the LPs: Besides the EBRD, Naguib Sawiris has made a commitment of USD 20 mn, the UK’s CDC is in with USD 25 mn, and the European Investment Bank has committed USD 15 mn. Other potential LPs include the Egyptian-American Enterprise Fund and the World Bank’s International Finance Corporation.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.