Today, Algebra Ventures, an Egyptian VC firm, announced that it has launched its $90 million second fund. The second fund will be similar — Egypt first, Egypt focused, but allocating investments in East and West Africa, North Africa and the Middle East. The reason behind this stems from the next set of companies Algebra will be looking to invest in. On his return, he became a managing partner at Ideavelopers, a VC firm operating a $50 million fund since 2009. Other large Africa-focused funds include the $71 million fund recently closed by another Egyptian firm, Sawari Ventures; Partech’s $143 million fund; Novastar Ventures’ $200 million fund; and the $71 million Tide Africa Fund by TLcom Capital.

Source: The North Africa Journal April 06, 2021 10:01 UTC