Plus VC establishes $60M capital fund to invest in 4 Arab countries including Egypt

SourceEgypt Today
SectorFinancial Markets

CAIRO – 12 October 2020: Plus Venture Capital (+VC) company, announced, Monday, the establishment of an investment capital fund of $60 million, to invest in 120 startups in the Middle East and North Africa, amid the surge in resorting to technological solutions driven by the coronavirus pandemic.   The fund will operate through its offices in Saudi Arabia, Bahrain, the Emirates and Egypt, according to a company press release.   The fund will focus on investing in technology-based startups in the most important sectors, including financial technology, health technology, and educational technology, in addition to logistics, content and e-commerce.   This comes at a time when investment fund managers say that capital "is barely keeping pace with the race of innovation in the Middle more...