IFIC to drive technology and healthcare investments
Posted on 04 April, 2017 by Chris Winters, reporter
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?”
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