Ayady for Investment and Development and NI Capital, the investment arm of the National Investment Bank and investment Manager of Ayady, have established Creative Media Ventures (Ebda3) LLC, a media technology fund, with 250 million Egyptian Pounds as seed capital. The company will invest in the digital and media tech sector as well as traditional media to enhance Egypt’s position in the media.
“Creative Media Ventures aims to invest in the media sector in order to develop the sector and contribute to increasing the economic returns of media sector in the national GDP.” said Osama Saleh, Chairman of Ayady for Investment and Development. He added that the introduction of technology to the sector and investment in its pioneers will restore Egypt’s position in the media to its previous glory.
“Creative Media Ventures will focus on investing in emerging and fast-growing companies in the technology media sector, which has significant growth opportunities in line with the global trend of investments.” said Ashraf Ghazaly, CEO and Managing Director of NI Capital.