According to Business News, EuroMena Funds, a manager of venture capital funds specialized in high growth mid-market private companies particularly in the MENA and the Mediterranean countries, will be launching by end-2017 a $100M fund that targets local small to medium enterprises (SMEs) operating in all industries except real estate.
According to EuroMena, there is a large need for investment tickets between $3M and $10M among SMEs. The Fund will include institutional investors like banks and insurance companies, alongside the European Investment Bank (EIB) and International Finance Corporation (IFC).
The new fund will be a lifeline of 10 to 12 years for the targeted SMEs.