Sawari Ventures to launch $150 million fund to back Egyptian startups

Sawari Ventures to launch $150 million fund to back Egyptian startups

Egypt-based venture capital (VC) firm Sawari Ventures intends to launch a $150 million fund to back Egyptian startups.

According to Sawari’s CEO and co-founder, Hani Al Sanbati, the fund will focus on sustainable growth in Egypt in sectors like fintech, edtech, healthtech, cleantech, and deeptech.

Founded in 2010 by Ahmed Alfi, Hany Al Sonbaty, and Wael Amin, Sawari Ventures is a Mena-focused VC firm, backing over 30 companies, including Swvl, MoneyFellows, Instabug, Si-Ware, and Elves.

Source: Waya

Sawari Ventures, an investment company, has announced plans to launch a new fund with an investment target of approximately $150 million in Egyptian startups, as stated by CEO and co-founder Hani Al Sanbati. 

Al Sanbati emphasized in an official statement that Sawari Ventures is targeting various sectors, including fintech, education, healthcare, green technology, and deep tech projects, anticipating sustained growth in these sectors within Egypt.

He highlighted that the present time presents optimal conditions for investing in technology companies, affirming that current economic circumstances will not impede further investments by stakeholders in these ventures. Moreover, Al Sanbati added that the initial challenges encountered by startups will not significantly impede their growth.

Projections suggest that startups supported by Sawari Ventures will attract investments ranging from $350 million to $500 million over