June 10, 2021

138 Pyramids to establish SME-focused private equity firm


ArabFinance: 138 Pyramids received approval from the Financial Regulatory Authority (FRA) to set up an SME-focused private equity company, Hapi Journal cited Chairman Nevine El Tahri on June 9th.

The new company, Pyramid Private Equity Company, will be established with EGP 10 million in initial capital.

The company will invest in local SME manufacturers and exporters with annual revenues as low as EGP 50 million.

El Tahri added that Pyramid Private Equity wants to have deployed EGP 1 billion by 2024, in addition to bringing bring financial institutions into the fold to become partners and ramp up investments.

138 Pyramids is a development finance initiative launched and managed by Delta Inspire.

arabfinance


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