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Monday, 17 October 2022

EBRD, EIB could commit EUR 35 mn to Mediterrania Capital’s new regional fund

The European Bank for Reconstruction and Development (EBRD) could commit EUR 20 mn to Malta-based impact investor Mediterrania Capital Partners’ fourth fund, which will invest in mid-cap companies in Egypt, Morocco and Tunisia, according to EBRD’s website. The lender is set to approve the investment by 30 November. The European Investment Bank is also considering investing EUR 15 mn in the fund.

About MC IV: The fund has an EUR 350 mn target close, according to the EBRD and EIB. We don’t yet know the timeline for its first close or its targeted ticket sizes or sectors. MC IV succeeds the MC III fund, which focuses on North African education, healthcare, B2C services, food processing, distribution, and export-bound manufacturing firms. MC III acquired diagnostics imaging network MetaMed in 2020, and carved out a 40% stake in Cairo Scan for a reported EGP 103 mn in 2018.

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