COREangels MEA, a regional branch of the global COREangels network, has launched its fifth investment committee and unveiled a $10 million fund targeting early-stage tech startups across Africa and the Middle East. The fund, announced during a three-day investment forum in Egypt, signals the group’s intent to play a more prominent role in deploying structured, hands-on angel capital in the region’s nascent startup ecosystems.

Operating under the umbrella of PTS Investments Holdings, a U.S.-based investment firm focused on building sustainable businesses, the COREangels MEA fund aims to bridge the often-cited gap between startup financing and long-term operational support. The initiative is backed by Kemtix Ventures, the group’s innovation and venture arm, and combines capital investment with advisory and development services for portfolio companies.

“We don’t just inject money,” said Maha Mandour, Chairwoman of PTS Holdings and co-founder of COREangels MEA. “We believe in building integrated ecosystems. That means capital, yes, but also mentoring, technical support, and access to a global community of investors.”

Unlike traditional angel networks, which often operate informally and provide only early cheques, COREangels MEA follows a structured investment committee model. Each committee comprises a group of local and international investors who pool capital and share due diligence and governance responsibilities. The MEA committee is COREangels’ fifth globally and reflects a growing trend toward formalisation in angel investing across emerging markets.

The fund is sector-agnostic but favours startups aligned with the UN Sustainable Development Goals (SDGs), such as those focused on financial inclusion, health, education, and climate resilience. According to Mandour, this thematic orientation reflects both investor interest and local market needs.

“Startups that address structural problems while also building commercially viable models are the ones we want to back,” she said.

To coincide with the committee launch, COREangels MEA hosted a startup competition that drew over 1,000 applications from across Africa. Five startups were selected for investment and support:

• eMaisha Pay (Uganda) — Offers smallholder farmers financial products including crop insurance, savings tools, and loans.
• RentBeta (Kenya) — A rent payment solution that allows tenants to pay in flexible instalments while automating landlord collections.
• Aqua Offers (Egypt) — A retail engagement platform offering real-time loyalty programmes and instant savings.
• Monak (undisclosed) — Provides migrants with an integrated platform covering financial, health, and insurance services.
• Reeple (Nigeria) — Enables freelancers to receive international payments at lower costs.

Each of the selected startups will receive up to $150,000 in non-dilutive cash awards, along with tailored technical and advisory support through Kemtix Ventures’ innovation studio.

The fund launch and competition were hosted by the Arab Academy for Science, Technology and Maritime Transport (AAST), a regional educational institution that has been increasingly active in entrepreneurship and innovation. A cooperation agreement was signed between AAST and PTS Holdings to expand joint support for startups, particularly in providing institutional infrastructure, mentorship, and access to applied research.

Dr. Ismail Abdel Ghaffar, President of AAST, described the collaboration as a step toward “empowering young innovators and fostering structured pathways from ideation to market.”

COREangels MEA’s entrance into the market comes at a time of cautious optimism in African tech. While overall funding has slowed compared to the record highs of 2021, there has been a noticeable shift toward more strategic, long-term capital from both local and international sources. Early-stage investing, in particular, has seen a rise in professionalisation, with new funds and angel networks increasingly adopting structured approaches.

Mandour acknowledges that the region’s founders still face significant challenges in accessing capital that goes beyond one-off investments. “The real opportunity is in coupling money with experience and staying power,” she said.

As African startups mature and pressure grows for profitability and impact, models like COREangels MEA — which blend financing with operational expertise — may become a more common fixture. For now, the group is focused on deploying its first round of capital and expanding its network of angel investors across the continent.

“We’re not trying to reinvent the wheel,” Mandour said. “We’re building a system that gives founders the tools, capital, and guidance they need — and doing it with people who know these markets from the inside out.”