E-finance for Digital and Financial Investments (e-finance), a leading technology-focused investment firm in Egypt, announced on Wednesday, the acquisition of
Sawari Ventures closes $68 million fund for Egyptian tech startups wamda.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wamda.com Daily Mail and Mail on Sunday newspapers.
Sawari Ventures closes $71 million fund for Egyptian tech startups
Egypt-based venture capital firm Sawari Ventures has closed a $71 million fund to invest in local technology-focused companies.
Limited partners include Misr Insurance Group, Ekuity, National Bank of Egypt, Banque Misr, Banque du Caire, Suez Canal Bank, European Investment Bank, CDC, Proparco, and South Africa-based DGGF.
Sawari Ventures is led by Ahmed Al-Alfi, Hany Al-Sonbay and Wael Amin, and has so far invested in more than 30 companies, including SWVL, Instabug, and Si-Ware, among others.
The fund is regulated by the Financial Regulatory Authority of Egypt (FRA).
Press release
Sawari Ventures announced the closing of the Egypt-based fund with total commitments of USD 30 Million from Misr Insurance Group, Ekuity, National Bank of Egypt, Banque Misr, Banque du Caire, and Suez Canal Bank. The fund previously closed USD 41 million of raised investments from European Investment Bank, CDC , Proparco, DGGF w