Tanmiya Capital closes $130 million Fund II backed by EIB

Who is backing the fund

Alongside the EIB, Fund II draws on international and local institutional investors. These include the Egyptian-American Enterprise Fund, the European Bank for Reconstruction and Development, the International Finance Corporation (IFC) and Egypt's Micro, Small and Medium Enterprise Development Agency (MSMEDA).

Where the money will go

Founded in 2016, TCV focuses on growth equity and private equity investments in established mid-market Egyptian companies. Fund II will target healthcare, training, fintech, consumer goods, logistics and transport, offering capital and operational support to help firms expand, professionalise and become more competitive.

The fund is expected to build a portfolio of six to eight companies. At least 30% of them are expected to meet one or more of the EIB's gender equality financing criteria. At its target scale, the fund is expected to support thousands of jobs across Egypt.

The investment addresses the limited availability of long-term equity finance for small and medium-sized companies in Egypt. Portfolio companies may also source equipment, technology and services from European suppliers or form partnerships with European businesses, which would strengthen commercial links between Egypt and Europe.

The EIB will contribute its experience in environmental, social and governance standards and international private equity practice through a seat on the fund's advisory committee. The operation follows a Team Europe approach and supports the EU-Africa Global Gateway Investment Package.

"The successful closing of Tanmiya Capital Fund II above its target reflects strong investor confidence," said Managing Partner Ahmed El Guindy.