EIB invests $37.5 million in Tanmiya Capital Fund II to boost the growth of Egyptian businesses
Egypt, Oct. 26 -- The European Investment Bank (EIB), through its development arm EIB Global, invested $37.5 million in Tanmiya Capital Fund II to expand access to growth capital for established small and medium-sized companies in Egypt. The investment was announced today at a ceremony in Cairo attended by EIB Vice-President Gelsomina Vigliotti and Tanmiya Capital Ventures Managing Partners Ahmed El Guindy, Youssef Ahmed Ayoub and Mohamed Mohsen Mahgoub.The EIB commitment helped Tanmiya Capital Fund II reach a final close of $130 million, exceeding its $120 million target. The fund is supported by a diversified group of international and local investors, including the Egyptian-American Enterprise Fund (EAEF), the European Bank for Reconstru...
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