PRINT THIS PAGE Afghanistan's first venture capital fund targets $50m15/06/2004. Source: AltAssets. 
 A former manager from McKinsey & Co, Pierre Van Hoeylandt, is to launch Afghanistan's first venture capital fund. The Afghanistan Renewal Fund will invest in fledgling construction, food, textiles and furniture manufacturing companies, according to a report by Bloomberg.
The Asia Development Bank is considering a commitment of $12.5m and CDC Group, a government owned UK company, may commit in the region of $5m.
The Afghan economy grew 20 per cent in the last fiscal year, after expanding 30 per cent in the previous 12 months as aid flooded in. The fund will seek to profit as Afghanistan tries to rebuild its historical role as a crossroads of trade between the Middle East, China and India.
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