Egyptian Venture Capital Firm Sawari Ventures to Launch $200 Million Fund
Sawari Ventures, an Egyptian specialist in venture capital, is set to launch its second fund, worth $200 million, by early 2025. The fund will focus on supporting African startups, with a specific focus on Egypt, Morocco, Tunisia, and Kenya. The fund will target companies in the Series A and Series B stages.
The fund will prioritize investments in fintech, digital education, health technologies, and agri-tech sectors. Sawari Ventures' first fund, established in 2010, has been a success, currently managing $70 million in assets, with investments in 19 companies and two seed funds, including Flat6Labs Tunis in 2020. This success has motivated the decision to increase the financial envelope and expand its geographic footprint.
The new investment vehicle will address the significant financing needs in high-growth sectors in the targeted markets. Sawari Ventures has partnered with Bpifrance, which was signed during the FrancoTech event held this month at Station F in Paris, alongside the International Francophonie Summit. This partnership will stimulate innovation by bridging the gap between Africa, the Middle East, and Europe. Cross-border investments will improve startups' access to international networks, markets, and resources, essential for their growth and expansion.
Tunisian startups, therefore, have the opportunity to grow and expand beyond their borders if they demonstrate a robust business model that has already proven itself in the local market.
