Egyptian investment firm Glint announced the initial closing of its second venture capital fund, Glint Fund II, at $3 million, with the potential to grow to $6 million within the next year and a half. Glint Fund II will focus on providing investment opportunities to about 8-10 Egyptian companies in the seed funding and Series A stages, with investment tickets ranging from $250,000 to $500,000. Founded in 2016 by Tarek Aboualam and Youssef Helmy, Glint has a history of supporting Egyptian startups, including Darwinz.ai, Iqraaly, Wasla, Kashier, and Filkhedma.
The venture capital firm leverages a proprietary venture studio model to support portfolio companies. Glint Fund II seeks to empower innovative Egyptian startups to build disruptive technology-based companies with the potential to expand into regional and international markets. The fund will target investments between the Seed and Series A funding stages.
“Glint’s second fund is a significant step forward in developing our ecosystem to support Egyptian tech startups aiming for regional and international expansion,” said Tarek Aboualam, Managing Partner at Glint. “Our Venture Studio model goes beyond just capital; it provides an integrated platform offering business, operational, and technical support alongside access to regional markets. We are excited to collaborate with new and returning investors.”
“Investing in startups that redefine and disrupt markets is more than just financial input; it’s about building a foundation for continuous innovation and substantial regional growth,” added Youssef Helmy, General Partner at Glint. “The fund will focus on digital and disruptive industries, aiming to make significant inroads into AI, fintech, and other cutting-edge technologies.”
Glint offers two main services: investment in startups and company establishment. Glint has a particular interest in startups that utilize artificial intelligence (AI) and financial technology (FinTech).
The company’s first investment fund saw success with several portfolio companies achieving positive outcomes. “Filkhedma” was acquired by a South African company, while Darwinz.ai, Iqraaly, Wasla, Kashier, and all experienced growth.
