U.S. Cartel Capital to invest $30 million in Egypt over next 3 years

Big 5

U.S. private equity and venture capital firm Cartel Capital says it plans to inject investments ranging between $20 million and $30 million in Egypt in the next three years.

The New York-based firm is seeking to seize some investment opportunities in Egypt’s pharmaceuticals, technology, education, and health sectors in addition to investing in some troubled factories in the country, alternative investment manager Ayman Abou Hend further told Amwal Al Ghad.

Foreign investors still need more clarity from the authorities in Egypt regarding the economic strategies they offer to remove all the investment obstacles, notably in case of exiting the market, Abou Hend said.

Cartel Capital’s investments in the Gulf region and some European countries have reached $100 million at the end of 2017, he added.

The company is also studying a number of investment opportunities in the Gulf, notably in Saudi Arabia and the UAE, as a prelude to pump between $20 million and $30 million in each, Abou Hend said.

Cartel Capital is a leading multi-stage private equity and venture capital firm providing capital for start-up and growing companies whose principal business centres on products and services that can make use of high information technology solutions.