Egypt's Tanmiya closes $130M growth fund, beating its target
What's the deal? Tanmiya Capital VenturesDealroom has a profile for this one. Try Dealroom → has closed its second fund, Tanmiya Capital Fund II, at $130 million, backed by a $37.5 million commitment from the European Investment Bank (EIB). The growth-equity fund exceeded its $120 million target and will provide expansion capital to established small and medium-sized companies in Egypt.
Who's backing it? Alongside the EIB, the fund drew a mix of international and local investors: the Egyptian-American Enterprise Fund, the European Bank for Reconstruction and DevelopmentDealroom has a profile for this one. Try Dealroom →, the International Finance Corporation, and Egypt's Micro, Small and Medium Enterprise Development Agency.
What's the endgame? The Cairo-based firm plans to back a concentrated portfolio of established, high-growth companies across healthcare, training, financial technology, consumer goods, logistics, and transport. It expects to hold just six to eight investments, offering patient capital and management support rather than broad early-stage venture funding.
Why now? The fund targets what the EIB calls limited availability of long-term equity finance for Egypt's mid-sized firms. At least 30% of portfolio companies are expected to meet one or more of the EIB's criteria for financing that supports gender equality.
Why it matters: Closing above target stands out against a fundraising environment the EIB described as difficult amid macroeconomic and geopolitical uncertainty. "The successful closing of Tanmiya Capital Fund II above its target reflects strong investor confidence in our strategy and in the potential of Egypt's private sector," said managing partner Ahmed El Guindy.
The signal: The raise fits a broader 2026 push by development-finance investors into Egyptian private equity — the EIB committed $80 million to RMBV North Africa Fund III the same year. Tanmiya's Egypt focus and growth-equity mandate mark it as a sizeable pool of patient capital for mid-sized firms, though it is one part of an institution-led effort rather than proof of a wider revival in private fundraising.
Read more: eib.org
Image credit: Generated with Gemini
