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Feb 22, 2012
Palestine Securities Exchange a Bright Spot in Equities
 
Feb 9, 2011
Palestinians Launch First Private Equity Fund
 
Feb 9, 2011
Debut Palestinian PE Fund Reaches First Close
 
Feb 8, 2011
Palestinian Tycoon Launches First Private Equity Fund
 
Feb 8, 2011
West Bank's First Private Equity Fund Launches
 
Feb 8, 2011
Massar Announces First Private Equity Fund in Palestine
 
Feb 8, 2011
First Private Equity Company Launched in West Bank
 
Feb 8, 2011
The First Private Equity Fund Dedicated to Palestine Holds Initial Closing at Over $60 Million
 
Jun 24, 2010
OPIC Approves Siraj Palestine Fund I For Up To $30 Million
 
OPIC Approves Siraj Palestine Fund I For Up To $30 Million
Jun 24, 2010
WASHINGTON, D.C. – On Tuesday, June 24, 2010, the Board of Directors of the Overseas Private Investment Corporation (OPIC) approved a total of $455 million in financing to support the establishment of five private equity investment funds targeting investments in companies in the Middle East and North Africa (MENA). The five funds combined are expected to put over $2 billion of investments to work in the MENA region. The five funds approved were among 87 responses to OPIC’s call for proposals.

Among the five, Siraj Palestine Fund I is the only fund that focuses exclusively on investing the full amount of the fund’s target capitalization of $80 million in Palestinian companies. The OPIC Board approved up to $30 million in financing of Siraj Palestine Fund I, which is dedicated to investing in promising start-up, small & medium-size enterprise (SMEs) and large companies across various economic sectors in Palestine, particularly those that display an untapped potential for growth and job creation. This includes distressed but viable companies that have struggled financially due to the long-term political turmoil suffered most notably in the West Bank and Gaza during the period between 2001 and 2004, and since 2007 specifically in Gaza. The Fund may also invest in companies registered abroad that have significant operations in Palestine.

The overall goal of the Fund is to invest in promising Palestinian companies that are short on capital and may not otherwise have access to financing to sustain and grow their businesses, but who are expected to become leaders in their respective fields. The Fund’s investments are intended to unleash the potential of these Palestinian businesses, while promoting technological advancements and development in the country, spurring economic growth, job creation and innovation in Palestine.

The fund will also facilitate technical assistance to its portfolio companies to improve the companies’ operations and enhance their growth opportunities.

OPIC selected as fund manager Siraj Fund Management Company, a Ramallah-based company owned by Massar International, another Palestinian company that manages a network of 15 subsidiaries operating in real estate development, financial services, and corporate business development.
 
 
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