9 October 2020
Promoter – Financial Intermediary
The proposed operation consists of an equity participation of up to USD 10 million in Badia Impact Fund II, a venture capital fund investing in tech-oriented growth-stage and start-up enterprises. The Fund has a target size of USD 50 million and its target market is the Southern Neighbourhood, with a strong emphasis on Jordan and Egypt.
The Fund aims to generate long-term return for its investors, as well as significant development impact on the markets where it operates, namely by:
-supporting innovative and high-growth start-ups and small and medium-sized enterprises (SMEs) in developing regional global solutions;
-ensuring access to financing and sophisticated capital to innovation enterprises in Jordan, Egypt and the Levant region;
-creating quality jobs and ensuring employment especially for the youth in the region;
-expanding the venture capital ecosystem in Jordan and the region;
-catalysing interest and attracting institutional investment capital to the Levant region and the Middle East and North Africa (MENA) in general.
The proposed operation would be in line with EU policies regarding the financing of SMEs in the Levant region and MENA in general. The Fund will ensure support for strategic priorities, such as developing innovation and information and communications technology (ICT) solutions, supporting an active entrepreneurial ecosystem and ensuring access to finance and employment creation by promoting sustainable private sector development.
- Financial and insurance activities
Proposed EIB finance (Approximate amount)
USD 10 million (EUR 9 million)
Total cost (Approximate amount)
USD 50 million (EUR 43 million)
The investment guidelines of the Fund will follow environmental and social (E&S) guidelines that are acceptable to the Bank.
Signed - 22/12/2020