EIB commits $22m to first close of Lorax Capital Partners fund

The European Investment Bank (EIB) has signed a commitment of $22 million with LCP Fund II, a generalist private equity fund targeting growth capital investments in SMEs and mid-market companies in Egypt.

At the first closing, the fund attracted $140 million of commitments, including from other international investors: the European Bank for Reconstruction and Development, International Finance Corporation, Proparco and the Egyptian American Enterprise Fund.

The fund manager, Lorax Capital Partners, will adopt a hands-on value-adding investment strategy and will seek to invest in enterprises with robust growth potential in important economic sectors including education, healthcare, manufacturing and services.

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