Sawari Ventures, a leading venture capital firm in Egypt, announced its plans to launch a new $150 million fund dedicated to supporting promising Egyptian startups across various sectors. This move highlights the company's continued commitment to fostering innovation and driving economic growth in the region.
Founded in 2010, Sawari Ventures boasts a successful track record of backing over 30 companies, including regional players like Swvl, MoneyFellows, and Instabug. Hani Al Sanbati, CEO and co-founder of Sawari Ventures, expressed his optimism about the current investment climate, emphasizing that "present conditions are conducive to continued investments in technology companies."
The new fund will target key sectors poised for significant growth in Egypt, including fintech, edtech, healthtech, cleantech, and deeptech. Sawari Ventures anticipates that the startups it supports will attract additional investments totaling $350 million to $500 million within the next five years.
"Our vision is for Egypt to become a central hub for investments in Africa and the broader region," stated Al Sanbati, highlighting Sawari's historical involvement in supporting over 500 startups across the Arab world. "We actively help prime companies for further funding by facilitating investments and exits," he added.
Al Sanbati revealed ongoing discussions regarding potential exits from some portfolio companies within the next 18 months, conditioned on their continued growth and successful acquisition by new investors. This underscores Sawari Ventures' strategic approach to maximizing returns and reinvesting capital into supporting the wider ecosystem.
With a significant portion of its portfolio dedicated to fintech (35%), Sawari Ventures plays a crucial role in driving digitization and expanding financial inclusion in Egypt. This new fund signifies the company's unwavering commitment to empowering innovative Egyptian startups and fueling the country's entrepreneurial landscape.
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