May 06 2009 |
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Venture Capital Fund Organizes "Venture Capital Forum"
Venture Capital Fund Bahrain hosted its second forum titled "Venture Capital Fund Bahrain - Targeting Promising Small and Medium Enterprises in the Kingdom of Bahrain". The event, which was held at the Crowne Plaza Hotel, was attended by members of the Entrepreneurs Organization - Bahrain Charter.
Dr. Ahmed Al Jawhary, Member of the Venture Capital Fund Bahrain's Board of Directors, made a presentation detailing the Fund's philosophy, objectives and processes. Explaining the Fund's philosophy and objectives, Dr. Al Jawhary said "A review of world's developed economies illustrates clearly the vital role that continues to be played by small and medium sized enterprises (SMEs) in sustaining and growing these economies. This segment of economy has, for far too long, been ignored by financial institutions in our region. Venture Capital Bank identified this gap and as part of its mandate and in partnership with Bahrain Development Bank and other key investors established the Fund to support the SMEs in their development phase.
The Fund in working with SMEs does also play an important role in helping the growth of Bahrain's economy in areas such as export and employment." He added "The Venture Capital Fund Bahrain aims to identify Bahrain based SMEs that would benefit from equity injection in achieving their potential for growth. It targets companies with scalable and sustainable business models that have been in operation for at least one financial year. By investing in these businesses, the Fund is in reality investing in the entrepreneurs and their capabilities."
-Ends-
Venture Capital Fund Bahrain is part of a partnership between Venture Capital Bank , Bahrain Development Bank and a number of key strategic investors interested in economic development projects in the Kingdom. Venture Capital Bank manages the Fund, which responds to the needs of SMEs in the Kingdom of Bahrain. The successful SMEs may be able to benefit from Sharia'h compliant venture capital injection of between US$ 250,000 and US$ 3 million. The first in a series of funds to target Bahrain and other promising MENA countries, the Fund is scouting for unique and innovative venture capital opportunities backed by committed entrepreneurs and dedicated management teams. It provides the SME's with the 'smart capital' needed to ensure their sustainability in a competitive environment, improve their business profitability, and drive their growth and expansion.
Interested entrepreneurs may obtain more information on the nature of the Fund's activities, its terms and conditions, as well as the application form by visiting the Fund's website: http://www.vc-bank.com/vcfundBahrain.
For further inquiries, please contact:
May Marzooq
Corporate Communications & Marketing
Tel: +973 17 518 872
Fax: +973 17 518 880
Email: marzooq@vc-bank.com
Fatima Rashid
Corporate Communications & Marketing
Tel: +973 17 518 859
Fax: +973 17 518 880
Email: frashid@vc-bank.com
© Press Release 2009
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