Pyramid Private Equity is aiming to grow the volume of investments to more than LE 1 billion, partnering with various banks that target the growth of the SMEs sector.
Egypt’s first SME-focused private equity company has been approved by the Financial Regulatory Authority (FRA), which will invest in small- and medium-sized enterprises (SMEs) and projects under the FRA’s umbrella.
The Pyramid Private Equity Company received the approval yesterday, and will be established with LE 10 million in initial capital, and will invest in local SME manufacturers and exporters with annual revenues as low as LE 50 million.
The shareholder structure is divided between the Delta Inspire Project Management Company, as a joint partner, and 138 Pyramids venture capital firm.
The FRA issued a decision to establish the company in accordance with the provisions of the Capital Market Law No 95 of 1992, and its executive regulations and decisions.
Pyramid Private Equity is aiming to grow the volume of investments to more than LE 1 billion, partnering with various banks that target the growth of the SMEs sector.
The new company’s Board of Directors include Ahmed Darwish, former Minister of Development and Administration and former head of the General Authority for the Suez Canal Economic Zone (SCZone), Nevine El Tahry who serves on the Boards of Directors at The Sovereign Fund of Egypt (TSFE), Khalil El-Bawab, Managing Director of Misr Financial Investments, and Randa Abdo, Founder and Partner at Marketing Mix.
