The Technology Development Fund is one of Egypt's first CIT Venture Capital Funds focusing on seed and early-stage financing. First proposed in 2001 by the Commercial International Investment Company (CIIC), it has since received the backing and support of the Egyptian Ministry of CIT (MCIT) due to its potential impact on the development of Egyptian CIT sector as well as fitting perfectly with the objectives of Egypt's National CIT Plan.

The Fund is managed by EFG-Hermes Private Equity (EHPE), stressing on the investor's confidence in EHPE, its competent CIT team and their respected track record. EHPE is Egypt's leading private equity group and is fully owned by the EFG-Hermes financial powerhouse.

Investors of the fund include leading Egyptian institutional investors like: Telecom Egypt, The Commercial International Investment Company, and Misr Insurance Co.

EFG-Hermes is the Arab world premier investment banking firm and the market leader in securities brokerage, asset management, investment banking, and private equity.

Since 1997, EFG-Hermes has raised equity of approximately US$ 7.0 billion for its investment banking clients and advised on more than US$ 13.2 billion worth of M&A transactions. The firm advised major international clients such as Nestle, Kraft foods, American Express, Pepsi Co., Heineken, Bristol-Myers Squibb Co., HSBC, and GlaxoSmithKline.

EFG-Hermes was established in 1984. In July 1998, EFG-Hermes went public with a USD 50 million GDR offering and now boasts a market capitalization of nearly USD 2 billion. EFG-Hermes is listed on the London and Cairo stock exchanges.