EBRD supports Badia Impact Squared first closing

EBRD supports Badia Impact Squared first closing

Source: EBRD

New technology companies in the southern and eastern Mediterranean (SEMED) region will benefit from additional sources of new funding thanks to a US$10 million equity commitment by the European Bank for Reconstruction and Development (EBRD) to the venture capital fund Badia Impact Squared (Fund) managed by Silicon Badia.

Badia Impact Squared is offering alternative equity funding to early-stage technology companies in the SEMED region. The fund will focus on investments in Egypt, Jordan, Lebanon, Morocco and Tunisia, with a principal focus on Jordan and Egypt.

The investment is the EBRD's second commitment to Silicon Badia, following a US$ 8 million commitment to Badia Impact Fund in 2014. Silicon Badia has made investments in technology companies developing products and services with application in sectors such as healthcare, financial services and transportation.

"We're delighted to be able to continue our partnership