Daily News Egypt

Artoc Group's invests LE 56 million in Abu Dhabi's CERT Innovations - Daily News Egypt

Advertising Area




Advertising Area




Artoc Group's invests LE 56 million in Abu Dhabi's CERT Innovations

CAIRO: Corecap and Alpen Capital, the financial advisors of the Center of Excellence for Applied Research and Training (CERT) – the commercial arm of the Higher Colleges of Technology in the UAE – announced that Artoc Group has partnered with CERT and invested in CERT Innovations. Mohammed Shafik Gabr, chairman and managing director of Artoc …


CAIRO: Corecap and Alpen Capital, the financial advisors of the Center of Excellence for Applied Research and Training (CERT) – the commercial arm of the Higher Colleges of Technology in the UAE – announced that Artoc Group has partnered with CERT and invested in CERT Innovations.

Mohammed Shafik Gabr, chairman and managing director of Artoc Group, has also joined the board of CERT Capital, chaired by Nahayan Mabarak Al Nahayan, UAE Minister of Higher Education and Scientific Research, and vice chaired by Tayeb Kamali, vice chancellor Higher Colleges of Technology.

Khaled Hassan Rashed, CEO and board member of Corecap said, “We are pleased to have on board Artoc Group, as one of CERT Innovations’ lead investors. Artoc Group’s investment of LE 56 in CERT Innovations, a $100 Million venture capital investment fund, says that the fund is a compelling investment opportunity in the private equity landscape, one of the fastest growing asset classes globally.

CERT Innovations fund invests primarily in the embryonic and evolving technology, healthcare and education sectors. The fund targets an internal rate of return of 25 percent per annum.

“As CERT’s financial advisor, we are keen to build on our strategic alliance and partnership with the Artoc Group to nurture and grow regional businesses. This partnership is an example of established private and public sector players working together towards the goal of developing the regional economies, said Rashed.

Kamali said, “We are delighted to partner with an outstanding institution such as Artoc Group and to have on board Mohammed Shafik Gabr. This partnership confirms H.E. Sheikh Nahayan Mabarak Al Nahayan’s revolutionary vision to develop the education, healthcare and technology sectors in the UAE and the Gulf.

“CERT is the largest private education provider in the Middle East. CERT is also the largest Middle East and North Africa investor in the discovery and commercialization of technology, investing $35 million in 2006. CERT is involved in strategic alliances with a number of large multinational organizations in developing a diverse range of business and technology solutions such as IBM, Intel, Honeywell and Lucent Technologies. CERT also holds collaborative programs with several academic leaders such as MIT, University of Strathclyde, Harvard, NYIT, Waterloo among others.

Artoc’s Gabr said, “We are thrilled by the tremendous investment opportunities in Abu Dhabi in general and with CERT Innovations in particular. . CERT provides investors a unique opportunity to participate in the ongoing economic growth and long-term development of the Middle East and North Africa region. The organization’s track record and institutional structure are very attractive and we look forward to accelerating its future development while cementing our strategic partnership.

Corecap is an investment and advisory firm that offers a spectrum of investment opportunities in alternative asset classes in the MENA region to institutional and high-net worth investors.

Topics: FJP

Advertising Area



https://wwww.dailynewssegypt.com/2007/07/24/artoc-groups-invests-le-56-million-in-abu-dhabis-cert-innovations/
Breaking News

No current breaking news

Receive our daily newsletter
Subscribe