Abraaj Capital, Palestine Investment Fund (PIF), Bank of Palestine (BoP), Cisco and the European Investment Bank (EIB) jointly announced today the first close of the Palestine Growth Capital Fund, which will provide private equity growth capital investments and management support to high growth small and mid-cap companies (SMCs) in Palestine.
The announcement was made yesterday during an event in Ramallah attended by SMCs, the business community, investors and the media.
The Palestine Growth Capital Fund (“the Fund”) is part of Abraaj Capital’s US$ 650 million SMC investment platform, Riyada Enterprise Development (RED). The Fund will target investments in 13-15 businesses, which are expected to achieve tremendous growth and have the potential to expand into new regional and international markets.
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