Abraaj Capital and Citadel Capital and have secured $250m in fund commitments from the US Overseas Private Investment Corporation (OPIC).
The two fund managers, who also invest in African companies, will receive the funds as part of OPIC’s wider $455m commitment to five middle-eastern funds.
Abraaj has secured $150m for its Riyada Enterprise Development Growth Capital Fund, which has a target of $500m. The Citadel Capital Joint Investment Fund, which is also targeting $500m, will receive $100m.
OPIC also committed to AcceleratorTech Capital Partners, KIPCO Private Equity, and Siraj Fund Management, who have respectively secured $25m, $150m, and $30m.