Acumen Fund explores opportunities in Mideast
Acumen Fund is exploring possibilities of investment in the Middle East, its Middle East head Ankur Shah told Emirates Business.
The fund is a non-profit global venture fund that provides philanthropic capital to companies aimed at contributing to social development.
"We are exploring possibilities of investment in the region. We currently have two investments in Egypt, one with an organic farming company. It reclaims land from desert, trains small holder farmers to grow organic crops, buy the crop from them and convert them in to herbal pharmaceuticals, textiles and dairy products. Another investment is towards a company that aims at solving the problem of unemployment," Shah said.
"We are exploring expansion in Egypt. We are identifying potential sponsors, candidates and potential pipeline opportunities to invest in," he added.
He said the company has identified water, healthcare, energy, housing and agriculture as the key sectors of its focus. "With a very small investment, which potentially an individual couldn't have possibly done.
"We have catalysed it in such a way that it generates multifold social returns. The return gets recycled into more projects."
On its presence in Dubai, he said it was an important logistical hub to provide support to its companies in other countries.
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