The Pyramid… The First SME-focused private equity company in Egypt

138 Pyramids, the Egyptian VC outfit announced setting up an SME-focused private equity company with EGP 10 mn in initial capital, and will invest in local SME manufacturers and exporters with annual revenues as low as EGP 50 mn.

The Financial Regulatory Authority (FRA) approved the establishment of The Pyramid Private Equity Co. as the first company in the Egyptian market to invest in small and medium enterprises under modern mechanisms.

Egypt-based investment management firm  Delta Inspire  will manage the Pyramid Private Equity Co. as a general partner and 138 Pyramids is a limited partner in it.

The Pyramid Private Equity Co. aims to take the volume of investments to more than EGP 1bn, in partnership with many banks that target the growth of the SMEs sector.

The company’s Board of Directors includes: Ahmed Darwish, former Minister of Development and Administration and former head of the General Authority for the Suez Canal Economic Zone (SCZone); Nevine El Tahry, a deputy at the House of Representatives who has worked on the Boards of Directors at many banks and economic bodies, and who currently serves on the Boards of Directors at The Sovereign Fund of Egypt (TSFE); Khalil El-Bawab, Managing Director of Misr Financial Investments; and Randa Abdo, Founder and Partner at Marketing Mix.