Foundation Ventures closes its debut fund to invest in early-stage Egyptian startups

Foundation Ventures closes its debut fund to invest in early-stage Egyptian startups

Egypt's startup ecosystem has grown multiple folds in the last few years both in the number of deals and the total value of investments raised by startups. Fawry has become the first billion-dollar tech company of the country (just a year after its debut on the local stock exchanges and there have been outliers like Swvl and Vezeeta that have gone on to become the leading players in their categories across the region with a presence in different countries.

With the growing number of startups and investible opportunities, the number of tech investors investing in Egyptian startups also continues to grow. We've been seeing many new players trying to fill gaps in funding at different stages. Foundation Ventures is the latest name on Egypt's VC ecosystem map.

Founded by three young Egyptians;