Investcorp, the global investment group, announced the first of a number of investment opportunities that it will make available for the growing segment of investors who are seeking high-yielding, Shari’ah-compliant alternative investment opportunities and are looking for those opportunities to be vetted by an independent Shari’ah advisor.
Investcorp is offering such investors a Shari’ah compliant technology fund, the Investcorp Technology Ventures II Islamic Investing Fund. This Fund will co-invest in parallel with Investcorp’s recently launched Investcorp Technology Ventures II Fund, which focuses on technology venture investments in North American and Western European markets. The Shari’ah compliant parallel fund will invest only in those Fund II investments that have been pre-approved by the eminent Shari’ah 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 Shari’ah 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 Investcorp’s 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, Investcorp’s 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 Shari’ah 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.”