MENA: SANAD Invests $5 Million in Badia Impact Fund Squared

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Nov 2020
MENA, November, 17 2020 - With an investment of $5 million, the SANAD ESF II contributed to the $36 million first close of the Badia Impact Fund Squared, which targets early-stage, innovative small and medium enterprises (SMEs) in need of equity funding to scale up operations.

The second Equity Sub-Fund (ESF II) of the SANAD Fund for MSME has participated in the first close of a newly established fund for entrepreneurs in the Middle East and North Africa. With an investment of $5 million, the SANAD ESF II contributed to the $36 million first close of the Badia Impact Fund Squared, which targets early-stage, innovative small and medium enterprises (SMEs) in need of equity funding to scale up operations – particularly in socially impactful sectors such as financial inclusion, healthcare, education, and smart transportation. 

The Badia Impact Fund Squared is managed by the Jordan-based company Silicon Badia. The experienced investment firm has established and managed four other SME funds, including in the Middle East and Africa. Its focus on bolstering the ability of SMEs to provide employment and income generation makes the Badia Impact Fund Squared an ideal first investment for the SANAD ESF II – a sub-fund launched in 2019 with the objective to fuel entrepreneurship and economic growth in the region by providing equity to institutions and enterprises with high social impact potential.



Source : FinDev Gateway
 

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