European LP commits to SPE Capital fund
The EIB has confirmed support for a new $350 million fund managed by SPE Capital.
At the EU-Egypt Investment Conference in Cairo, the European Investment Bank confirmed support for a new $350 million regional private sector investment fund managed by SPE Capital.
EIB Global is committing $9.3 million to the first closing of this new fund, in line with the EU’s Global Gateway strategy, alongside other European and international development partners, including the European Bank for Reconstruction and Development, DEG, British International Investment, FMO, BPI France, and the International Finance Corporation, among others.
The fund is expected to unlock large-scale equity investments in high-growth private companies operating in sectors such as healthcare, pharmaceuticals, education, manufacturing, financial services, logistics and consumer goods across Egypt, Tunisia, and Morocco.
"SPE Capital is pleased to once again get the anchor support of the EIB and backing for this vital and timely investment initiative. Egypt and North Africa is home to a skilled workforce and a wealth of innovative companies ready to scale. By combining long-term equity investment with strategic experience and advisory support, we can help businesses overcome challenges, accelerate growth, and contribute to the region’s economic advancement. Our commitment is to enable these companies to reach their full potential and drive substantial economic impact. We are excited to leverage the combined expertise and resources of our development finance partners to drive significant growth and innovation in the region," said Nabil Triki, CEO of SPE Capital.
The fund will provide critical risk capital and managerial expertise to support the growth and internationalisation of local companies. The fund will help portfolio companies identify and pursue growth opportunities, enhance their operational efficiency and professionalise processes and management procedures, while offering much-needed equity risk capital amid challenging economic conditions.
"The EIB's support for this fund underscores our dedication to fostering economic growth and job creation in Egypt and the region. By supporting local businesses, we aim to enhance their capacity to expand regionally and improve operational efficiencies, which is crucial for sustainable development. The European Investment Bank is committed to fostering sustainable economic growth and job creation in North Africa. By supporting high-growth businesses in Egypt, Tunisia, and Morocco, we are helping to unlock the region’s potential and drive long-term prosperity. This investment underscores our dedication to improving healthcare, education, and financial services, which are critical for the region’s development. The creation of over 10,000 skilled jobs will have a transformative impact on local communities and economies," said Gelsomina Vigliotti, EIB vice president.
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