Signature(s)
Amount
€ 5,000,000
Sector(s)
Services
: € 5,000,000
Signature date(s)
22/12/2009 : € 5,000,000
Link to source
Data sheet
Other links
Summary sheet
Release date
17 September 2009
Status
Reference
Approved | 12/10/2009
20090347
Project name
Promoter - financial intermediary
Middle East Venture Capital Fund
Early stage IT companies based in the Palestinian Territories
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 5 million (to be financed under the FEMIP Trust Fund)
Total size of the Fund is between USD 35 million and USD 50 million.
Location
Sector(s)
Description
Objectives
Participation in a venture capital fund currently being established, which will primarily invest in early stage private, export oriented businesses located in the Palestinian Territories and active in business services, software and communication.
The Fund would be the first venture capital fund focusing on the Palestinian Territories. It will support the development of the financial sector and private sector in the Palestinian Territories by providing equity or quasi-equity financing for the expansion of local early stage companies, which completely lack a source of venture capital financing that is critical for their growth.
Environmental aspects
Procurement
Not applicable
Not applicable
Link to source
Summary sheet
Other links
Data sheet
Photogallery
©To be defined
©To be defined
©To be defined