Vodafone Ventures’ Fund to Invest in 4 Companies

By Administrator On Sep 27, 2012

Vodafone Ventures’ Fund, Vodafone Egypt’s investment arm, intends to pump investments in 4 emerging companies within days.

Eng. Hatem Dowidar, CEO of Vodafone Egypt, stated that the fund has entered final negotiations with four companies for investment. He added that the fund seeks to invest in new innovative ideas that come under the umbrella of the company’s business.

The company aims to purchase from 10% to 30 % of the shares of these companies, which he refused to reveal their names until competing the investment procedures.

Dowidar explained that Vodafone has set a number of criteria for choosing the companies eligible for that investment. These criteria specify that companies must provide advanced technology and innovative services, have distinguished staff, and be capable of achieving growth and financial revenues, in addition to the applicability of its services and products to enter global markets.

The Vodafone Ventures’ Fund was launched at a capital of EGP 20 million for developing small-sized entreprises working in the field of internet services, supporting technological innovations developed by young people, and boosting Egyptian economy.