Injazat Technology Fund, one of the first and Islamic venture capital companies in the world, has launched assertive new strategies to target the venture capital requirements of the Middle East and North Africa region through financing deals that bring concrete benefits for the region that stretches from Morocco to Iran.
Motivated by its slogan 'From the Region, For the Region,' Injazat is targeting select professionally managed companies that have the potential to grow and expand either within and/or outside the region. This is expected to boost regional development of new technologies and solutions, generate high-level employment opportunities for local people and create solutions customized for the region. Injazat's target industry sectors for investment include information technology, communications and entertainment.
Injazat Technology Fund is a $50 million venture capital fund that was initiated by the Islamic Corporation for the Development Sector, an affiliate of the Islamic Development Bank (IDB) and Gulf Finance House, in partnership with Dubai Islamic Bank, Saudi Economic Development Company and Iran Foreign Investment Corporation.
The IT companies open to financing from Injazat include those involved in software and hardware development, complex platform integrators, industry-specific solution providers and e-Commerce solution providers. In the field of media, Injazat targets companies specializing in content provision, production and media delivery. The communication companies being targeted are those focused on last mile solutions, basic services in emerging markets and complex network solution provider. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
