Investcorp is offering such investors a Shariâah compliant technology fund, the Investcorp Technology Ventures II Islamic Investing Fund. This Fund will co-invest in parallel with Investcorpâs recently launched Investcorp Technology Ventures II Fund, which focuses on technology venture investments in North American and Western European markets. The Shariâah compliant parallel fund will invest only in those Fund II investments that have been pre-approved by the eminent Shariâah advisor to the Fund, Sheikh Dr Mohamed Ali Elgari. Dr Elgari has additionally reviewed and approved the structure and documentation of the parallel fund to ensure that it satisfies all Shariâah requirements.
The Investcorp team responsible for investing the Investcorp Technology Ventures II Islamic Investing Fund is the same team that achieved top quartile performance of Investcorpâs first technology fund. The Fund will invest in up to 25 companies in the technology sector; however, the focus will be expansion stage investment opportunities that have an established product in an expanding market, a growing revenue base, and a clear path to profitability.
Gary Long, Investcorpâs Chief Operating Officer, said: "Investcorp pays great attention to identifying and addressing client needs, and our clients expect us to show innovation in the investment opportunities we offer.
"There is growing demand within the GCC for higher-yielding Shariâah compliant products. Investcorp is uniquely qualified to offer investors such opportunities given our track record and experience in alternative investments.
"Including alternative investments in a traditional portfolio can increase returns, lower portfolio volatility and reduce risk. Put simply, the Investcorp Technology Ventures II Islamic Investing Fund enables us to offer these benefits to a new group of investors."