Alex Angels launches ~$6 million early-stage fund to back Egyptian startups

Alex Angels launches ~$6 million early-stage fund to back Egyptian startups

Alexandria Angels (more commonly known as Alex Angels), the angel network from Egypt, has launched Alex Angels Fund, a $6.3 million (EGP 100 million) fund to invest in Egyptian startups, it announced today in a statement to MENAbytes.. The statement did not have any details about the fundraising status of Alex Angels Fund but it said that the newly formed fund will start investing by the end of third quarter this year.. Tarek El Kady and Loay Shawarby, who have been leading Alex Angels , are the general partners of Alex Angels Funds.. There are no details in the statement but the fund, just like Alex Angles (the angel network) will apparently be sector agnostic..