Sawari Ventures, a prominent venture capital firm with a strong presence in North Africa, has announced the launch of a new $150 million 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 commitment to fostering innovation across key sectors, including education, healthcare, fintech, green technology, and deep tech.
This new fund will enable Sawari Ventures to continue its track record of supporting promising startups across Egypt, Tunisia, and Morocco. Since its inception in 2010, the firm has invested in approximately 500 companies, with a particular focus on fintech solutions that aim to digitize the Egyptian economy and enhance financial inclusion across the region.
Hani Al Sanbati, CEO and co-founder of Sawari Ventures, expressed optimism about the future of the Egyptian tech ecosystem. He emphasized that while the broader African tech landscape may have faced challenges in recent times, the long-term growth trajectory of Egyptian startups remains strong.
This significant investment highlights Sawari Ventures’ strategic approach to supporting entrepreneurs and fostering a thriving investment ecosystem. The firm’s operational framework is designed to not only provide capital but also to guide startups through their growth journey, positioning them for future success and facilitating successful exits.
This move by Sawari Ventures comes at a crucial time for the African tech ecosystem, which has experienced a decline in funding in recent months. This significant investment in the Egyptian market sends a strong signal of confidence in the long-term potential of African startups and reinforces the commitment of key players to supporting innovation across the continent.
