French development finance institution Proparco has invested $11 million in LCP Fund II, to help bridge the long-term financing gap for Egyptian mid-cap companies.

Incorporated in 2015, Lorax Capital Partners (LCP) is an Egypt-focused private equity firm. Over the course of the last five years, LCP has supported the Egyptian American Enterprise Fund (EAEF) in deploying about $175 million across five companies. One of their most notable investments was Fawry, Egypt’s largest e-payment...