Misr Capital Investments, the investment arm of Banque Misr, announced on Wednesday that it had launched Nile Misr Healthcare platform for investing in the healthcare sector with $380 million in partnership with Elevate Private Equity, the strategic manager of Nile Scans and Labs.
The platform will explore investments opportunities in the healthcare sector, including hospitals, pharmaceutical manufacturing, digital medical services, and medical education in Egypt and Africa, according to a statement on Wednesday.
The platform managers aim to reach the first closing of the fund with $150 million by the end of the first quarter (Q1) of 2022 with an initial investment from Banque Misr and Elevate Private Equity.
Tarek Moharram, CEO of Elevate Private Equity, will hold the CEO position of the platform.
The sale and purchase agreement (SPA) is expected to be signed within the coming few weeks upon completion of all the required procedures.
