U.S. Cartel Capital to invest $8mln in Egypt, Gulf during Q2

U.S. private equity and venture capital firm Cartel Capital plans to invest around 160 million Egyptian pounds ($8 million) in Egypt and some Gulf countries during the second quarter of 2020, its investment head said.

The investments will be through acquisitions deals and providing capital for petroleum and energy sectors, Ayman Abou Hend told Amwal Al Ghad.

The New York-based firm will also study investment deal opportunities would be mainly in finance sector along with payment and microfinance sectors as pharmaceuticals and medium-sized housing, Abou Hend said.

Cartel is a group of angel and professional investors that source investment opportunities in North America and the Middle East. The spectrum of these investors range from professional investment managers to experienced industry personas.