Lebanon-based investment firm EuroMena, announced the close of its third fund at $150 billion. “In spite of a difficult macro-economic environment in the region, EuroMena has once again succeeded in finding investors, confirming the robustness of its performances,” said Romen Mathieu, Managing Partner at EuroMena.

Besides already present investors like Proparco (French Public aid to private sector branch) and the European Investment Bank, the fund attracted new investors such as the International Finance Corporation, German Finance Development Organization (DEG), and the Commonwealth Development Corporation.

With its third fund, EuroMena plans to expand its geographical sphere of intervention to sub Saharan Africa, a region which according to analysts, records a middle-class driven rapid growth.

Sectors targeted are mass retail and consumption, beverages and food, financial services and ICT.