PHOTO
Image for illustrative purpose. A man counts U.S dollars at a money exchange office in central Cairo, Egypt December 27, 2016. Picture taken December 27, 2016.
ArabFinance: The European Bank for Reconstruction and Development (EBRD) has approved a $15 million equity commitment to Algebra Ventures second tech fund, a statement by the bank said.
The fund will form part of the Bank's Early-Stage Innovation Facility, a EUR 100 million facility through which the EBRD selectively invests in early-stage venture capital funds.
The Bank's participation will support the Fund in reaching its target size. Algebra Venture is targeting a $60 million first close for its latest fund, which was initially targeted for the third quarter (Q3) of 2021.
Copyright 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
