FINANCIAL NEWS

Investors to create Menagurus firm for USD 12.73mn in Egypt

20 Jan 2016

(MENAFN) Menagurus, the newly-formed venture capital Company, will proclaim the major features of its investment plans in the second quarter (Q2) of this year.

Accordingly, the Co. capital is USD 12.73mn and the group is recently seeking into the activities of 18 emerging firms for possible financing.

In addition, Menagurus intends to finance five start-ups through Q2 of 2016, with a budget of USD 1.9mn, which will focus on Egypt, Saudi Arabia, and Lebanon.

The group will get 40 shares in all firms it finances, and will leave these companies after three to five year, and will also hire one of the investors of the group in the financed firms.

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