Middle East- and Africa-focused fund manager The EuroMena Funds has invested US$20 million in Lebanon-based bank Credit Libanais. The transaction was structured through EuroMena III. EuroMena acquired the shares as part of the sale of 9.41 million shares in Credit Libanais by investment bank EFG-Hermes. Credit Libanais provides a range of… Read More
MENA-focused private equity firm Emerging Investment Partners (EIP) has acquired General Cable Egypt (GC Egypt), the Egypt-based subsidiary of the United States-listed cable producer General Cable USA. With EIP’s support, GC Egypt intends to expand its market share in Egypt, as well as more broadly in the Middle East and… Read More
Saudi Arabia-based jewelry manufacturer L’azurde Company for Jewelry, which is owned by a consortium of private equity firms comprising Investcorp, Eastgate Capital Group and The National Investor, has completed an initial public offering (IPO). The company raised SAR419.7 million (approximately US$111.9 million) in the retail tranche offering, which accounted for… Read More
NBK Capital Partners, a private equity and mezzanine fund manager focused on the Middle East and North Africa, has held a first close for NBK Capital Partners Mezzanine Fund II with US$110 million in capital commitments. Investors in the fund include institutional investors and family offices. The fund will target… Read More
Venture capital firm Accel Partners has led a US$1.7 million seed financing round for Egypt-based provider of software bug reporting tools Instabug. A series of angel investors also participated in the round. Instabug, which was part of seed accelerator Y Combinator’s Winter 2016 batch, plans to use the capital to… Read More
North Africa-focused private equity firm Mediterrania Capital Partners has invested in Morocco-based IT business system integrator MedTech Group. The transaction was structured through Mediterrania Capital II. MedTech operates in the software, hardware and middleware infrastructure, payment solutions, and telecom and network systems sectors. Financial details of the transaction were not… Read More
Middle East-focused alternative asset manager Gulf Capital has reached a third close for its second private debt fund, GC Credit Opportunities Fund II, with US$222.5 million in capital commitments. The fund previously held a second close in May with US$202.5 million in commitments. Investors in the fund included development finance… Read More
Global growth markets investor The Abraaj Group has listed Egypt-based healthcare provider Cleopatra Hospital on the Egyptian Exchange, raising EGP360 million (approximately US$40.5 million) in an initial public offering (IPO). Abraaj, which originally invested in Cleopatra Hospital in 2014 through Abraaj Private Equity Fund IV and Abraaj North Africa Fund… Read More
Pan-emerging markets private equity firm Actis has sold a seven percent stake in Edita Food Industries, an Egypt-based snack food company. Actis sold 50.7 million shares for an average price of EGP17.85 (approximately US$2.00) per share, for total proceeds of EGP906 million (approximately US$102 million). Separately, Actis has reached a… Read More
MENA-focused venture capital firm Wamda Capital has led a seed financing round for United Arab Emirates-based bitcoin exchange platform BitOasis. Other participants in the round included incubator Digital Currency Group, payment systems company Payfort and several angel investors. BitOasis plans to use the funding to grow its team and strengthen… Read More
(default archive template)