Middle East Venture Partners raises Lebanese VC fund of more than $50 mln
Middle East Venture Partners said it raised its IMPACT Fund with commitments of more than $50 million. It described the fund in a press release as the largest venture capital fund in Lebanon and the first fund to comply with Banque du Liban’s Intermediate Circular 331. The Fund is co‐sponsored by BLOM Invest Bank and MedSecurities Investment, and has received first close commitments from Lebanese banks including BLOM Invest Bank, BankMed, Bank Audi, Fransabank, Credit Libanais Investment Bank and Al‐Mawarid Bank. The Middle East Venture Partners expects several additional banks to join the second closing, including Banque Libano‐Francaise, Bank of Beirut, BBAC, LGB Bank and First National Bank, BML.
24 October 2014•5 mins read
