|From Opalesque: Private Equity in the MENA region is still facing challenges as the financial crisis unfolds both globally and regionally. Figures from GVCA, KPMG 2008 annual report shows (Figure 1) an increase in size of funds raised in 2008 compared to those in 2007. However, as 2010 is emerging, de-leveraging continues and cash available for the finance of this industry is scarce. Fund managers are having a hard time closing announced funds and it is more difficult for new funds to raise capital.
It is further illustrated (Figure 2) that the VC industry is still facing more critical challenges. Although public and selected private organizations are trying to adopt and encourage establishment of western model of VC in the region, this industry is not bouncing back........................................Full Article: Source