Egypt - ODIN Investments is targeting to manage four funds by the end of 2021, Amwal Alghad cited company CEO Hashem El-Sayed as saying.
ODIN Investments manages its real estate fund, which amounted to EGP 2.5 billion at the end of 2020, as well as the ODIN Investment Fund of EGP 500 million in cooperation with KASB Capital, a Saudi based investment company, El-Sayed added.
The listed company will launch two funds engaging in venture capital and financial technology (FinTech) with EGP 500 million per each.
ODIN Investment reported a 15% Year on Year increase in its consolidated net loss in 2020, suffering EGP 2.48 million.
ODIN, formerly known as Egyptians Abroad for Investment and Development Company, aims to attract funds from Egyptians living abroad and invest them in the ongoing development of Egypt, with a focus on the real estate and financial services sectors.
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