Tanmiya Capital closes $130M second fund for Egyptian growth companies

CAIRO — Tanmiya Capital Ventures has closed its second fund at $130 million, beating its target, with a register stacked with development finance: the European Investment Bank committed $37.5 million alongside the EBRD, the IFC, the Egyptian-American Enterprise Fund and MSMEDA, Egypt's MSME agency, through its fund-of-funds programme.

The fund backs growth-stage Egyptian private companies, and the timing does the talking. Tanmiya II is the second DFI-anchored Egyptian fund close inside 48 hours, after DPI's Nclude fintech fund closed above $112 million.

Two nine-figure closes in two days is not a coincidence; it is the development-finance complex deciding Egyptian private equity and venture are fundable again after the currency reset. DFI money moves slowly and in herds, and the herd has moved.

The question now is deployment. Egyptian growth-stage companies have spent two years priced for survival, and $130 million of fresh growth capital against compressed valuations is how the next league table of Egyptian winners gets written.

Expect at least one more Egyptian vehicle to announce a close before the year ends, riding the same DFI window.

WAYA reported the close.