Names of the Arab Investment Funds that Got $455 Million Committed From the U.S Government

3 Aug, 2010

It is not a jock Obama’s administration plan for “entrepreneurship” in the Muslim and Arab world, as the U.S. government Overseas Private Investment Corporation (OPIC) approved recently a total of $455 million in financing to support the establishment of five private equity investment funds.

We  have gathered  data about the U.S. federal government plans for “entrepreneurship” in the Arab & Muslim world, so expect more independent coverage coming from AC. As for now here are the names of the 5 funds with some details, these 5 got the financing out of 87 proposals sent to OPIC.

  1. Riyada Enterprise Development Growth Capital Fund: OPIC Board approved up to $150 million in financing to support the fund, which will invest in small and medium-sized enterprises (SMEs) throughout the Arab region focusing on tech. Riyadys is managed by Khaldoon Tabaza from Jordan and was acquired by abraaj Capital. Target countries for the fund include Egypt, Turkey, Palestinian Territories, Jordan, Lebanon, Pakistan, Oman, Algeria and Morocco.
  2. Accelerator Technology and Innovation Capital Partners managed by the Jordanian mother company of IV Holdings which invested in Jordanian startups Jeeran, ShowfeeTV, Gate2Play, Wizerd Production, from UAE CONSERVUS, CONTENT SYNDICATE, from and SF, CA ,USA: IDEALRATINGS. The OPIC Board approved up to $25 million to Accelerator, the fund focus on digital content, internet services, mobile applications, mobile financial services, technology services and platforms, next generation media, entertainment and software development sectors. Target countries for the fund include Jordan, Lebanon, Palestinian Territories, Egypt, Morocco and Tunisia among other Arab and Islamic countries.
  3. KIPCO Opportunity Fund: PIC Board approved up to $150 million in financing to support the fund, focus: developing infrastructure and maturing financial markets in the MENA region, including in the financial services, media, infrastructure and information technology sectors. Target countries for the fund are Jordan, Lebanon, Algeria, Egypt, Morocco and Tunisia, although the fund may also invest in other countries in the MENA region. KIPCO Private Equity,  is owned by Kuwait Projects Company (Holding) K.S.C. (Closed), a Kuwait-based company which to date has made over 60 investments valued at approximately $23 billion. The fund has a target capitalization of $1 billion.
  4. Citadel Capital Joint Investment Fund: OPIC Board approved up to $100 million in financing to support the fund, which will invest in companies in various stages of maturity, including traditional buyouts, growth capital investments, turnaround situations and greenfield projects. Sectors of interest include waste management, transportation and logistics, manufacturing, and production of building materials and alternative energy. Citadel Capital Management Limited, is owned subsidiary of Citadel Capital SAE, an Egypt-based company which is one of the leading private equity investment firms in the MENA region. Citadel Capital currently manages a total of $3.7 billion in equity and has completed investments in 19 platform  ompanies. The new fund has a target capitalization of $500 million.
  5. Siraj Palestine Fund I : OPIC approved up to $30 million in financing to support the fund, which will invest in start-ups and SMEs in the Palestinian Territories, and potentially in larger companies with growth potential. fund focus: information and communication technology services, agriculture, clean technology, healthcare, education, manufacturing and financial service. fund manager is Siraj Fund Management Company, a Ramallah-based company owned by Massar International, another Palestinian company that manages a network of 15 subsidiaries operating in real estate development, financial services, and corporate business development. The fund has a target capitalization of $80 million.

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  1. Leslie Jump  |  August 3rd, 2010 at 6:59 PM #

    Don’t forget that DFJ ePlanet Ventures also approved for $75M (USD) from the Global Technology Fund. According to the press release this fund is targeted for a broader geographic focus, not just the Middle East, but it appears that they will be investing in the Middle East. See this link for more details: http://www.opic.gov/news/press-releases/2009/pr062510b/

  2. Iraqi  |  August 4th, 2010 at 12:49 AM #

    This list is of the awakening councils Aka “sahawat” of Arab business.

  3. James Cordahi  |  August 5th, 2010 at 5:11 PM #

    hi there, just to point out that Riyada Enterprise Development (RED) is the SME investment platform of the Abraaj Capital. RED’s executive chairman is in fact Tom Speechley. RED doesn’t focus on tech but it does favour businesses — all kinds of businesses – that can leverage technology and are scaleable. Many thanks for your interest.

    Riyada Enterprise Development Growth Capital Fund: OPIC Board approved up to $150 million in financing to support the fund, which will invest in small and medium-sized enterprises (SMEs) throughout the Arab region focusing on tech. Riyadys is managed by Khaldoon Tabaza from Jordan and was acquired by abraaj Capital. Target countries for the fund include Egypt, Turkey, Palestinian Territories, Jordan, Lebanon, Pakistan, Oman, Algeria and Morocco.

  4. Ahmad Tailoni  |  August 13th, 2010 at 12:00 PM #

    Hi Ghaith,

    Thank you for this report. This is very important informations. Do you mean that this OPIC is part of the conspiracy you talked about in your other posts? Do you think there is a relationship?

    http://arabcrunch.com/2010/08/names-of-the-arab-investment-funds-that-got-455-million-committed-by-the-u-s-government.html

    http://arabcrunch.com/2010/08/it-is-about-life-safety-update-about-hillary-clintons-competing-project-with-arabcrunch.html

    p.s. Are you still getting those threats?

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