Hani El-Sanbati, the CEO and co-founder of Swari Ventures for Investment, stated that the company plans to launch a new fund for investing in startups in Egypt, aiming to invest around $150 million through it.
El-Sanbati added in press statements that “Swari Ventures” targets several sectors, including financial technology (Fintech), education, healthcare, as well as green technology and deep technology projects, expecting continuous growth for these sectors in Egypt.
He affirmed that the current time is optimal for investing in technology companies, noting that the current economic conditions will not hinder further investments by investors in these companies, and that the challenges that startup projects may face in their early stages will not significantly affect their growth.
He expected that the startups invested in by “Swari Ventures” during the current year will attract investments ranging between $350 million and $500 million over the next five years.
El-Sanbati pointed out that the company aims for Egypt to become a hub for investment in Africa and the region in general, explaining that “Swari Ventures” has invested in about 500 startups since its inception in the Arab world.
He added that the company plays a role in stimulating investments and preparing companies to receive new investments, indicating that “exit strategies” are part of the company’s strategy to inject investments into other companies, and that the company is currently discussing the possibility of exiting from a number of companies during the next year and a half, while these companies continue to grow with new investors.
He noted that about 35% of the company’s portfolio has been invested in the financial technology sector, emphasizing the company’s efforts to digitize the Egyptian economy and change the trajectory of financial inclusion in Egypt.
Swari Ventures was founded in 2010 in Egypt and has become one of the leading venture capital investors in Egypt, having invested in more than 30 companies including Swvl, MoneyFellows, Instabug, Si-Ware, and ElFas.
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