Cairo Angels launches a micro VC fund to invest in startups in Middle East & Africa

  • Date: 09-Nov-2020
  • Source: MENAbytes
  • Sector:Technology
  • Country:Egypt
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Cairo Angels launches a micro VC fund to invest in startups in Middle East & Africa

Cairo Angels, one of the leading and oldest angel networks of the region that has been actively investing in Egyptian startups, has launched a micro VC fund, it announced today in a statement to MENAbytes, saying that the fund will invest in early-stage startups in the Middle East & Africa.

Zeina Mandour, the General Manager of Cairo Angels, speaking to MENAbytes said that they already have a few commitments and expect to close the fund in the first quarter of 2021. She said that they're aiming to raise between $1.2 million to $3 million for the fund and will start deploying the capital immediately after hitting the close.

The angel networks normally source deals and share them with their members to have them invest in these opportunities. Unlike VCs, they don't have