Camel Ventures launches $16 million fund to help fintech in Egypt

Egypt-based Camel Enterprise, an Affect Enterprise Capital Fund specializing in investing in promising FinTech startups in Egypt and throughout Africa.s has launched an EGP 500 million Enterprise Capital Funding Automobile, dubbed Camel Ventures for Funding I (CVI),

The brand new VC fund will focus on financing Egypt’s rising fintech startup ecosystem. Regulated by the Egyptian Monetary Regulatory Authority, CVI supplies each fairness investments for early-stage startups, in addition to enterprise debt denominated in native foreign money for later-stage startups.

CVI is backed by a various group of buyers, together with banks, monetary establishments, and household workplaces primarily based in Egypt and the GCC. The Founding and Managing Workforce – made up of Shehab Marzban, Mona El Sayed, and Mahmoud El-Zohairy – partnered with Al Ahly Capital Holding and dfin Holding to create CVI as the primary fintech-focused investor in Egypt.

CVI has already made ten investments in numerous sectors throughout Egypt, together with Khazenly, Pharmacy Marts, and klickit.

 The administration staff believes in working intently with startups, regulators, buyers, peer VCs, and repair suppliers to create sustainable progress and worth for its investees and the fintech ecosystem at  giant.

Associated