EBRD commits €15 million to Mediterrania Capital III Funds to boost small businesses in Egypt, Morocco and Tunisia
November 14, 2017
The EBRD is supporting small and medium-sized businesses in Egypt,Morocco and Tunisia with a €15 million equity investment in the first close of Mediterrania Capital III LP (MC III), which could increase up to €35 million in subsequent closings.
This is the third fund of Mediterrania Capital Partners, a regional private equity firm focused on growth investments supporting small and medium-sized enterprises (SMEs) in North Africa and sub-Saharan countries. The EBRD funds will allow Mediterrania Capital to make equity and quasi-equity investments in SMEs in Egypt, Morocco and Tunisia to boost their competitiveness.
It follows a previous €20 million EBRD investment in the second fund of Mediterrania Capital Partners, MC II, to support SMEs in North Africa.
Albert Alsina, Founder and CEO of Mediterrania Capital Partners, said: “The EBRD’s continued support is crucial to achieving our plans for expansion into Egypt. The EBRD’s values of building market economies through businesses that are competitive, green, inclusive, resilient and well-governed are fully aligned with our goals as a private equity firm that seeks to deliver high returns to our investors and partners while helping SMEs grow and set the right foundations for the future.”