HC Securities and Investment partnered with Viveris Mashrek to manage a small and medium enterprises (SME) investment fund to be launched by the General Authority for Investment (GAFI), the firm said in a statement.
"Viveris Mashrek enjoys extensive experience in direct investment in [SMEs],” while HC has a strong presence in Egypt and the Arab world, said HC Chairman and Managing Director Hussein Choucri.
Viveris Mashrek is 60 percent owned by Viveris-France, a company with expertise in direct investment in SMEs, real estate investment and renewable energy. Viveris has raised a total of €528 million in funds, currently being invested in France, Morocco, Tunisia, Turkey and Egypt.
HC’s bid to manage the fund is in line with plans to diversify into the growing SME sector.
