Camel Ventures launches $16 million fund to back fintech in Egypt

Camel Ventures launches $16 million fund to back fintech in Egypt

Source: Cairo Scene

Egypt-based Camel Ventures has launched an EGP 500 million Venture Capital Investment Vehicle, dubbed Camel Ventures for Investment I (CVI), focused on financing Egypt's growing fintech startup ecosystem. Regulated by the Egyptian Financial Regulatory Authority, CVI provides both equity investments for early-stage startups, as well as venture debt denominated in local currency for later-stage startups.

CVI is backed by a diverse group of investors, including banks, financial institutions, and family offices based in Egypt and the GCC. The Founding and Managing Team - made up of Shehab Marzban, Mona El Sayed, and Mahmoud El-Zohairy - partnered with Al Ahly Capital Holding and dfin Holding to create CVI as the first fintech-focused investor in Egypt.