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    HomeEcosystem NewsSawari Ventures Unveils $150 Million Fund to Boost Egyptian Startups

    Sawari Ventures Unveils $150 Million Fund to Boost Egyptian Startups

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    Sawari Ventures, a prominent Egypt-based venture capital firm, has declared its intention to launch a groundbreaking $150 million fund dedicated to supporting and nurturing Egyptian startups. The announcement was made by Sawari’s CEO and co-founder, Hani Al Sanbati, who outlined the firm’s strategic focus on sustainable growth in key sectors such as fintech, edtech, healthtech, cleantech, and deeptech.

    Established in 2010 by visionaries Ahmed Alfi, Hany Al Sonbaty, and Wael Amin, Sawari Ventures has consistently demonstrated its commitment to fostering innovation in the Middle East and North Africa (MENA) region. The firm has already backed over 30 companies, including successful ventures like Swvl, MoneyFellows, Instabug, Si-Ware, and Elves.

    In an official statement, Hani Al Sanbati emphasized the significance of the new fund and its targeted sectors, stating, “Sawari Ventures believes in the transformative potential of Egyptian startups. Our $150 million fund is a testament to our dedication to sustainable growth, and we aim to contribute significantly to the advancement of fintech, education, healthcare, green technology, and deep tech projects in Egypt.”

    The CEO further asserted that the current economic landscape presents favorable conditions for investments in technology companies. Al Sanbati expressed confidence that external economic challenges and initial hurdles faced by startups would not hinder their growth trajectory.

    Anticipating robust support from stakeholders, projections suggest that startups under Sawari Ventures’ wing could attract investments ranging from $350 million to $500 million over the next five years. Al Sanbati underlined the company’s overarching ambition for Egypt to emerge as a pivotal investment hub, not only within Africa but also across the broader region.

    “Sawari Ventures has invested in approximately 500 startups since its inception in the Arab world. Our operations are strategically designed to catalyze investments and pave the way for these companies to secure additional funding,” Al Sanbati explained.

    Highlighting the fintech sector’s prominence, approximately 35% of Sawari Ventures’ portfolio is allocated to digitizing the Egyptian economy and reshaping financial inclusivity trends. Al Sanbati sees this focus as instrumental in propelling Egypt into a leading position in the evolving landscape of financial technology.

    As part of Sawari Ventures’ broader strategy, Al Sanbati mentioned ongoing discussions about potential exits from certain companies within the next year and a half, provided these firms sustain growth and attract new investors.

    Sawari Ventures, with its rich history and dedication to innovation, continues to play a pivotal role in shaping the future of entrepreneurship in Egypt and the MENA region. The launch of the $150 million fund marks a significant step towards fostering sustainable growth and driving technological advancement in key sectors, solidifying Egypt’s position as a burgeoning hub for startups and venture capital.

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