The deal backing the internet telephone company was reportedly the first by the Cisco-backed Lebanon Growth Capital Fund, which invested alongside Intel Capital.
Riyada Enterprise Development (RED)’s Lebanon Growth Capital Fund, which is backed by Cisco, and Intel Capital have both reportedly invested in Nymgo, an internet telephone company.
The investment is the first by RED’s $30m Lebanon Growth Capital Fund, according to news provider Wamda, in an article cited on Abraaj Capital’s website. Abraaj Capital established Red in 2009 as an independent platform. Cisco recently committed $7m to the $30m Lebanon Growth Capital Fund.
In 2010 Intel invested an undisclosed sum…
