Tuesday, December 6, 2011

Cisco Backs $50M Lebanon Investment Fund

Cisco said this week that it is backing a $50M fund to invest in companies in Lebanon. Cisco said it invested $7M into the fund, in conjunction with the European Investment Bank (EIB), and Riyada Enterprise Development. The new fund is aimed at investing in small and medium sized businesses in Lebanon. Cisco said the effort in that country is part of its Corporate Social Responsibility efforts. The Lebanon Growth Capital Fund will invest in information technology, media, healthcare, and services, as well as other sectors.