Scott Ogur

Dubai-based private equity firm Scimitar Global Ventures has made investments in Romania and northern Iraq, because it sees these regions are poised for sustainable growth, according to Scott Ogur, partner. Scimitar's most recent investment in Romania was for approximately $5 million in Monopoly Media, a company that puts flat-screen televisions in banks and grocery stores to sell advertising space, said Ogur. Previously, the firm made an investment of about $5 million in Direct Credit, a software firm whose program initiates loans between banks and consumers. Scimitar targeted Romania after Zachary Venegas, partner, traveled to the region. With the country's advanced technological system along with the various foreign languages spoken there, Scimitar's partners are confident that investing in these devices would add capital to the region.

In Kurdish-controlled northern Iraq, Scimitar has invested approximately $4 million this year in Brusknet, a provider of internet service and satellite television. Since the majority of Kurds have cars and own homes, Scimitar's partners believed these Iraqis would be able to afford wireless technology, Orgur said. Many investors had originally focused on Baghdad, but Scimitar's partners thought investments in the nation's capital were too risky.

Later this year the firm is looking to close a $50 million fund targeting emerging markets in the Middle East and North Africa regions, Ogur said. It will focus on financial services, security, energy, mining, cement and commodities. Morocco is also being eyed for leveraged buyouts. Its proximity to Europe and access to the Mediterranean and Atlantic allow the country to benefit from trade and tourism, Ogur said. The fund will require a $500,000 investment minimum with 2.5/20 fees.

Scimitar's targets in emerging markets are its latest initiatives, Ogur said. At inception three years ago, the firm made a $5 million investment in Indiana-based Cole Bros. Water, a bottled water distributor. Scimitar that year also bought Corning's venture capital portfolio, which made investments in start-up technology companies.