IFIC to drive technology and healthcare investments

The fund hopes to make roads safer, reduce pollution and improve the lives of Iranians.

Iran’s sovereign wealth fund Iran Foreign Investment Company (IFIC) will invest an undisclosed amount into the healthcare and technology sectors, according to Reuters.

Founded in 199, IFIC manages the state’s assets and investments overseas while bringing technical know-how back to Iran. Europe is a main focus of the fund, which hopes to provide trade finance for European and Iranian companies looking to do business with each other.

IFIC manages approximately $5bn in total, and the fund will target opportunities in the technology industry, such as companies working to reduce pollution, and the healthcare sector, such as pharmaceutical companies researching Alzheimer’s and cancer treatments.

The fund has already invested in 22 companies, including mining and industrial sector, IT and ICT, andfinancial services firms.

Vahid Sharif, an investment manager at the fund, said: "We are ready to co-invest in the high-tech industry.

“How can we make Iranian roads safer? Can we develop electric cars to reduce pollution? Also, Iran is number one in energy waste – is there a way to reduce this?”


Copyright Mawsonia Limited 2010. Please don't cut articles from www.globalgovernmentventuring.com or the PDF and redistribute by email or post to the web without written permission.

Most read

  1. Temasek-backed Adyen announces IPO plans

    June 01, 2018

  2. Ant Financial seals $10bn

    June 01, 2018

  3. Enterprise Ireland joins $10.9m Neurent round

    June 01, 2018

  4. Northern Ireland backs $4.3m SiSaf round

    June 01, 2018

  5. BDC joins $4.5m AvenueHQ round

    June 01, 2018