North AfricaEntrepreneurial system

Sawari Ventures to launch $150 million fund to back Egyptian startups

Sawari Ventures, an investment firm, has unveiled its intentions to launch a new fund with a target investment size of approximately $150 million for Egyptian startups, as revealed by CEO and co-founder Hani Al Sanbati.

Al Sanbati emphasized in an official statement that Sawari Ventures is directing its focus towards various sectors, encompassing fintech, education, healthcare, green technology, and deep tech initiatives, anticipating sustained growth within these domains in Egypt.

He stressed that the current landscape presents favorable conditions for investing in technology enterprises, asserting that prevailing economic circumstances will not deter stakeholders from further investments in these ventures. Additionally, Al Sanbati noted that the initial challenges encountered by startups will not significantly hinder their progress.

Forecasts indicate that startups backed by Sawari Ventures are poised to attract investments ranging between $350 million to $500 million over the ensuing five years.

Al Sanbati underlined the company’s aspiration for Egypt to emerge as a central investment hub within Africa and the wider region, citing Sawari’s track record of investing in around 500 startups since its inception in the Arab world.

He elucidated that Sawari Ventures operates within a framework aimed at facilitating investments and preparing companies to secure new funding.

Al Sanbati indicated, “Exiting is an integral aspect of our company’s strategy to inject investments into other ventures,” noting ongoing deliberations regarding potential exits from certain companies within a timeframe of approximately a year and a half, provided these firms sustain growth and attract new investors.

Approximately 35 percent of Sawari Ventures’ portfolio is dedicated to the fintech sector, with a primary objective of digitizing the Egyptian economy and reshaping trends in financial inclusivity.

Established in Egypt in 2010, Sawari Ventures has established itself as a prominent venture capital entity in the country, supporting over 30 companies, including Swvl, MoneyFellows, Instabug, Si-Ware, and Elves.

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