The IFC has approved an equity investment of up to $25 million in Lorax II (LCP Fund II), a closed-end private equity fund targeting to raise $250 million to invest in mid-cap companies with strong management teams and growth potential in Egypt and up to 20% in the other countries in the Middle East and North Africa.

LCP Fund II is managed by Lorax Capital Partners, a Cairo based investment advisor.

The fund will make equity investments of between $15 and $50 million per transac...