That is how much Sawari Ventures raised for its Egypt-based fund. The fund has plans to ramp up investments in startups across the North Africa region. Either way, it is a giant leap for the fund launched in 2018 as the Sawari Ventures Fund I. Algebra Ventures, a firm based in Egypt, plans to raise a $90 million fund. According to a company statement, Algebra raised a $54 million fund in 2017 and deployed it in about 21 startups.

Source: The North Africa Journal April 06, 2021 17:03 UTC