Glint Raises $3 Million for Venture Fund II, Backed by Wadi Degla Group

Glint Raises $3 Million for Venture Fund II, Backed by Wadi Degla Group

By Press Release, 14 May 2024

Glint, Egypt’s prominent boutique consulting and investment firm, announced the first close of its second venture fund on Monday (May 13).

With an initial close of $3 million, anchored by Wadi Degla Group, Glint’s new fund will focus on supporting startups through its proprietary venture studio model.

Glint Fund II seeks to support innovative entrepreneurs to build disruptive, tech-based Egyptian companies with the capability—and mandate—to penetrate the regional and international markets and aims to invest between the Seed and Series A stages with tickets ranging from $250K to $500K.

Since its establishment 6 years ago, Glint has helped build many bright businesses like, Iqraaly, Wasla, Kashier and Filkhedma. 

"Glint's second fund represents an important step to further develop our ecosystem designed to support Egyptian tech-based startups looking to penetrate the regional and international markets," said Tarek Aboualam, managing partner at Glint. He added: "Glint’s Venture Studio model is designed to provide much more than just capital; it provides an integrated platform offering  business, operational and technical support as well as access to the regional market. We are  thrilled to start working with our new LPs as well as continue working with our 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 significant regional growth," added Youssef Helmy, General Partner at Glint. “The fund focuses on digital and disruptive industries, planning to make significant inroads into AI, fintech, and other cutting-edge technologies.”


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