This ‘first-of-its-kind’ Fund was launched by VCBank in June 2006, to pursue superior risk adjusted return by investing in small and medium enterprises (SMEs) throughout the MENA region. The Fund was established to give investors the opportunity to be a part of the region’s economic development, while cultivating the rapidly expanding base of SMEs throughout the MENA region. The Fund aimed to provide direct funding solutions, and financial and administrative support, to promising, rapidly-growing enterprises with well-structured management and high potential for profitability. The Fund’s portfolio companies are JAFCCO, QCon, ITWorx and Challenger Limited. Due to the expiry of the Fund’s original terms, during 2020, the Fund applied to the regulatory authorities for a further two-year extension.