Dubai - Mubasher: The International Finance Corporation (IFC), a member of the World Bank (WB) Group, is investing a total of $15 million in investment funds managed by BECO Capital, MAGNiTT reports.
IFC has invested $5 million in BECO Capital’s inaugural $50 million investment vehicle, launched in 2012, as well as $10 million in its newest venture capital fund, which is expected to reach up to $100 million.
“Our vision at BECO is to improve the region through technology entrepreneurship and innovation,” said Dany Farha, the managing partner of BECO Capital.
“With IFC as a partner, we will have the firepower to continue fueling and igniting liftoff for MENA’s disruptors, builders, and innovators,” he added.
