Ethos Invest has launched an ethical Sharia-compliant fund. Read on to find out more about the fund and which businesses it backs

Ethos Invest has launched the world’s first Sharia-compliant tech focused private equity fund.The Financial Services & Technologies Fund is set to become the world’s largest fund of its kind, focusing on financial services and technology, with a target fundraise of £1bn for private equity investments in Sharia-compliant and ethical SMEs.

It will invest in emerging innovators such as banking, asset management and payments. Other tech areas like blockchain, robotics and AI will be backed.The majority of capital will be deployed in the UK with additional investments in Europe, the Kingdom of Saudi Arabia and the wider MENA region, Southeast Asia and North America.

Along with Ethos Invest, the Jersey-based fund will be launched by the Al Inma Investment Company, the BMO Global Asset Management private equity team, and Vistra, which serves as the fund’s administrator.

Read more/Source: growthbusiness