Egypt’s SOLID Capital to launch $250 million fund before year-end

Cairo-based investment firm SOLID Capital, member of Dutch venture capital firm Solid Capital Group, plans to launch a new equity fund before the end of this year, with an initial capital of $250 million.

The fund will finance projects and investment deals in several sectors, SOLID’s chief executive Mohamed Reda told Amwal Al Ghad on Monday.

“We are planning to complete procedures to launch the fund before the end of the current year,” Reda said.

“We have started promoting the fund locally and globally with the aim of attracting more Arab investors to contribute to the capital of the fund.”

Reda praised the economic and legislative reforms made by the Egyptian government, which helped the country overcome the negative impact of the pandemic.