Sawari Ventures, a leading venture capital firm focused on North Africa, has announced plans to launch a new $150 million investment fund dedicated to supporting the growth of Egyptian startups. This significant investment underscores the firm’s confidence in the long-term potential of the Egyptian tech ecosystem and its ambition to position Egypt as a global investment hub.
The new fund will target a diverse range of sectors, including education, healthcare, fintech, green tech, and deep tech. This strategic approach reflects Sawari Ventures’ commitment to fostering sustainable growth and innovation across key sectors of the Egyptian economy.
Since its inception in 2010, Sawari Ventures has invested in over 500 startups, including 19 high-growth companies in Egypt, Tunisia, and Morocco. Fintech has been a key area of focus for the firm, with a strong emphasis on leveraging technology to enhance financial inclusion and modernize the Egyptian economy.
Hani Al Sanbati, CEO and co-founder of Sawari Ventures, expressed confidence in the long-term prospects of the Egyptian tech ecosystem despite recent challenges. He emphasized the firm’s commitment to supporting entrepreneurs and providing them with the necessary resources to succeed.
“We believe in the resilience of the Egyptian tech ecosystem,” stated Al Sanbati. “This new fund will enable us to continue investing in promising startups and contribute to the long-term growth and development of the Egyptian economy.”
This announcement comes at a crucial time for the African tech ecosystem, which experienced a significant funding downturn in 2024. However, this period also witnessed renewed commitments from key players, including the European Investment Bank and the African Development Bank, signaling continued confidence in the long-term potential of the African tech sector.
