Egyptian-American Enterprise Fund commits $50m to Tanmiya fund
Tanmiya Capital Ventures is a growth-equity firm focused on transforming family companies into institutional businesses.
Africa Private Equity News’ Connect messaging service is now free. Directly message other private equity professionals in our community.
Download the free Africa Private Equity News app: Android | iOS (or search for it in the app store)
Tap on the top-right icon to log in or register a free account
Tap on bottom-right Connect icon to start chatting
The Egyptian-American Enterprise Fund (EAEF) has committed $50 million to the Tanmiya Capital Ventures (TCV) Fund II.
TCV is a growth-equity firm focused on transforming family companies into institutional businesses. TCV has made five investments in Egypt, including Tamweel, the country’s leading non-bank mortgage finance player and Abu Auf, a popular healthy foods company. Earlier this year, TCV successfully exited its investment in Abu Auf to the United Arab Emirates food and beverages group Agthia.
“On behalf of our board of directors, I am pleased to announce that EAEF has agreed to commit $50 million to TCV Fund II,” said James Harmon, EAEF’s chairman. “We are excited again to serve as an anchor investor for TCV to help it catalyse private investment for its second fund. TCV is one of our trusted investment partners and has played a key role advancing EAEF’s mandate to support Egypt’s private sector. While this is a challenging time for the Middle East, we are committed to investing in Egypt’s private sector and supporting local talent, like TCV.”
* Subscribe to Africa Private Equity News’ monthly Dealmaker’s Log for a database of the reported investment deals, exits and fundraising closes. Click here for more information.