DEG signs $18m investment in PE fund
German development financier DEG has signed an $18 million investment in Lorax Capital Partners Fund II (LCP II), a fund managed by Lorax Capital Partners. LCP II is an Egypt focused private equity fund targeting fast growing mid-size companies that require growth capital.
LCP II’s investment strategy focuses on themes that offer substantial potential for investment: consumer-demand driven industries (like retail, healthcare, pharma and education); financial inclusion through non-banking financial institutions and app based financial products that address the needs of the poorer, largely un-banked population; and import substitution as well as expanding the geographical footprint. The overarching theme of the strategy is innovation through investments in businesses that are IT or technology driven or where innovation is a major driver for business development.
DEG, along with other development finance institutions, will play an important role with regard to the further institutionalisation of LCP II, in particular with regard to ESG.
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