CAIRO: The Egyptian investment firm Catalyst Partners has launched what it claims is the first private closed-end fund for impact investment in the Middle East, with capital of 1 billion Egyptian pounds ($54 million).
The Catalyst Capital Egypt fund’s first close recorded about EGP 450 million.
Established in accordance with the rules of the Egyptian Financial Regulatory Authority, it was launched in partnership with the United Nations Development Program and Misr Insurance Holding.
The fund aims to invest in small and medium-sized companies in Egypt, in accordance with the directives of the Central Bank, to support this vital sector.
The founding shareholders include the Insurance Holding Company, Misr Insurance, Misr Life Insurance, Misr Fund for Finance and Investment, Banque du Caire, Postal Investment Company and Attijariwafa Bank.
