Tanmiya Capital Ventures, a leading investment firm in Egypt, is preparing to launch its second fund, “TCVII,” with a target size of up to $100m. The fund will focus on investing in medium-sized enterprises with high growth potential. He added that the company’s recent exit from its stake in Abu Auf Food Company, a leading producer and seller of coffee and snack products, was motivated by its intention to launch the second fund. Agthia Group acquired 60% of Abu Auf Group in 2022, expanding its presence in the Egyptian market. Abu Auf Group was founded in 2010 and operates in six business segments: coffee, nuts, kitchen essentials, dates, dried fruits, sweets, and biscuits.

Source: Daily News Egypt March 07, 2024 20:00 UTC