16.4 C
March 26, 2023
Egypt Bulletin

$150 million EIB investment to create 8,000 technology jobs in ME

Through its new dedicated development finance arm, EIB Global, the European Investment Bank (EIB) will contribute $27 million to the Middle East Venture Fund IV (MEVF IV). Middle East Venture Partners (MEVP) has launched a new venture capital fund that will increase targeted equity investments in e-commerce, health, and education technology companies in the Middle East.

$150 million EIB investment to create 8,000 technology jobs in MEOver 8,000 jobs will be created in the Middle East because of investments in the upcoming fund. Utilizing MEVP’s 12 years of successful technical and sector investments, the proposed initiative will scale up long-term investments in early and growth stage companies. The Middle East Venture Partners has backed 60 technology startups in the past 12 years.

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