Misr Venture Capital to announce its restructuring plan this week

Misr Venture Capital,  a risk capital firm, is set to announce its restructuring plan along with an in-house work system during the board of directors meeting which will be held within the current week.

The company would make this announcement after terminating its contract with Union Capital Company which has lately managing the stumbling factories Fund.

Misr Venture Capital was launched in order to  financing troubled factories in order to resume operation.

A source with knowledge told Amwal Al Ghad that the standards  and the plan have been drafted in cooperation with a number of share holders in the company namely the Industrial Modernization Centre (IMC) and Tahya Misr Fund.

In addition , the company is in the process of studying the case of three troubled companies in different industrial sectors to deal with the during the upcoming period.

The Ministry of Trade and Industry intends  has launched Misr Venture Capital Company with capital of 150 million Egyptian pounds,  the company works on structuring the faltering factories to re-operate them. Amongst the shareholders of the company are the Industrial Modernization Centre (IMC), National Investment Bank, Tahya Misr Fund, and Ayadi Company for Development and Investment.