IFC proposes $20m commitment to Egypt-focused PE fund
IFC proposes $20m commitment to Egypt-focused PE fund
The Tanmiya Capital Ventures Fund II has a target of $150 million.
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The International Finance Corporation (IFC) has disclosed a proposed equity investment of up to $20 million into the Tanmiya Capital Ventures Fund II (TCV II), a fund targeting $150 million.
TCV II is an Egypt-focused growth capital private equity fund planning to invest in growing mid-cap companies across diversified sectors which include food and beverage, logistics, pharmaceuticals, healthcare, and higher education.
The fund will be managed by Tanmiya Capital Ventures, which was established in 2016 with a focus on Egypt. TCV is fully owned by Ahmed El Guindy, Youssef Ayoub and Mohamed Mahgoub, its three founding partners.
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