In a strategic move to invigorate Egypt’s burgeoning start-up ecosystem, Sawari Ventures, a prominent venture capital firm headquartered in Cairo, has announced the launch of a $150 million fund dedicated to fostering innovation and growth within the country.
Led by CEO and Co-founder Hani Al Sanbati, Sawari Ventures aims to allocate its resources across key sectors such as financial technology (fintech), education, healthcare, green technology, and deep technology projects. This diversified approach underscores the firm’s commitment to driving sustainable development and catalyzing transformative change on both local and regional scales.
Established in 2010, Sawari Ventures has been a steadfast supporter of innovation, providing crucial funding and mentorship to over 500 start-ups across Egypt, Tunisia, and Morocco. Notably, the firm focuses on nurturing early and growth-stage companies, propelling them towards success and impact.
With 35% of its portfolio dedicated to fintech ventures, Sawari Ventures recognizes the sector’s potential for disruption and growth, positioning itself as a key player in driving innovation within the financial services landscape.
Al Sanbati emphasizes Sawari’s dedication to positioning Egypt as a premier investment and entrepreneurship destination within Africa. By offering robust support and resources to aspiring entrepreneurs, Sawari Ventures seeks to catalyze economic growth and prosperity while cementing Egypt’s reputation as a hub of innovation and opportunity.
Supported by Sawari’s guidance, start-ups within its portfolio are poised for substantial growth, with projected investment raises of $350 million to $500 million over the next five years—a testament to the firm’s strategic leadership and commitment to excellence.
As Sawari Ventures paves the way for a future defined by innovation and collaboration, Egypt stands ready to embrace its role as a beacon of entrepreneurial dynamism, setting new standards of excellence for the region and beyond.
photo source: Google
By: Montel Kamau
Serrari Financial Analyst
22nd February, 2024
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