UK VC Charlemagne Capital leads return to Iran

Tehran Stock Exchange

UK VC Charlemagne Capital leads return to Iran: London-based asset manager Charlemagne Capital has become the first Western VC to establish a presence in Iran since the lifting of sanctions became a possibility last week. The company, which has about $2.5 billion under management, has teamed up with financial services group Turquoise Partners in Tehran to invest in Iranian equities, primarily in the oil and gas, banks and retail sectors, according  to a report in the Financial Times. They are likely to be the first of many, its portfolio adviser told the newspaper, on account of the country’s highly educated population,  diversified economy and a well-developed stock market and regulatory system. Charlemagne Capital and Turquoise Partners plan to start with an asset base of $70 million and raise it to $200 million in the short to medium term.