Sawari Ventures Unveils $150 Million Fund for Egyptian Startups

Sawari Ventures Unveils $150 Million Fund for Egyptian Startups

By Staff Writer, 22 February 2024

Sawari Ventures, a prominent investment firm, has disclosed plans to launch a new fund aimed at supporting Egyptian startups with a targeted investment of around $150 million.

CEO and co-founder Hani Al Sanbati announced this ambitious initiative, highlighting the company's strategic focus on key sectors such as fintech, education, healthcare, green technology, and deep tech projects within the Egyptian market.

Established in the Arab world in 2010, Sawari Ventures has already made significant strides, having invested in approximately 500 startups across various sectors.

With a forward-looking approach, the company envisions Egypt evolving into a prominent investment destination within Africa and the broader region.

Al Sanbati emphasized that despite prevailing economic conditions, the time is ripe for investments in technology-driven ventures.

He expressed confidence that these startups, despite facing initial challenges, are poised for substantial growth.

Projections indicate that over the next five years, startups backed by Sawari Ventures could attract investments ranging from $350 million to $500 million.

As part of its strategic framework, Sawari Ventures is committed to facilitating successful exits for its portfolio companies, thereby channeling investments into new ventures.

Discussions are already underway regarding potential exits from certain companies within a year and a half, provided they demonstrate sustained growth and attract new investors.

Fintech holds a prominent position within Sawari Ventures' investment portfolio, constituting approximately 35% of its total investments.

The company aims to drive digital transformation in the Egyptian economy while promoting financial inclusion initiatives.

With its latest fund, Sawari Ventures signals its unwavering commitment to fostering innovation, entrepreneurship, and economic growth within Egypt's dynamic startup ecosystem.

Source: Waya

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