In a year and a half CIIC's investments in the Technology, Media & Telecommunication (TMT) sector have risen from LE 20 million to over LE 150 million. Starting from nothing in June 1999, CIIC now has more than LE 120 million in private (non-traded) TMT companies, ranging from communication infrastructure and operation to IT services and Internet. Out of the total private equity investments in the sector, 80% have a venture capital (VC) character, with large stakes and active involvement in the decision-making process. All but one investment are in local companies, but none are necessarily limited to operations within Egypt. CIIC's primary aim has been to participate in the development of the network infrastructure and the creation of the tech-talent pool. CIIC has successfully managed to balance its risk-return profile, despite a deteriorating global economic environment and the collapse of the world tech market.

Here are some of the highlights of CIIC's TMT portfolio:

Telecommunications: National Telecommunications Company (NTC) and its main subsidiaries EgyNet, Egyptian Cyber Center and MenaTel offer a unique vertically integrated telecommunication and IT product range in a converging world. Activities include data carrier operations, communication equipment production, telecom operations, Internet service, and content aggregation. Partnerships with Lucent and Hewlett-Packard give the companies access to cutting-edge technology.

Technology: IT Worx is the largest software outsourcing business based in Egypt with a client list that includes some of America's largest fortune 500 companies such as United Technologies, Corel and Microsoft. IT Worx has recently concluded its second round of financing from the International Finance Corporation in order to finance its expansion in the US market. Middle East Network Solutions (MNS) is a pioneer in mobile commerce and unified messaging applications. (MNS) has implemented its propriety mobile banking application for 5 of Egypt's largest banks. It has also launched is own unified messaging platform ezagel which was shortlisted as a finalist for Microsoft Annual Fusion Awards. Raya Holdings is Egypt's largest independent IT company with a very strong distribution and IT integration franchises.

Media & Internet: CIIC has nurtured three of Egypt's and the Arab worlds better-recognized brand names of the new media: Otlob.Com, an online order post, and Masrawy.Com, Egypt's largest online community and Arabia.Com; the Arab world's largest portal. In addition CIIC is the largest single shareholder in The Arab Company for Arts & Publishing (FUNUN), the region's first and largest integrated media conglomerate.