In recent years, Egypt's startup ecosystem has seen an increase in investment and funding opportunities. Thanks to the increasing availability of venture capital firms, angel investors, and crowdfunding platforms, startups now have access to the financing they need to establish and scale their enterprises. Egypt's distinct characteristics, along with a supportive ecosystem and a thriving market, make it an attractive place for companies seeking to build a name for themselves in the entrepreneurial scene. In this article, we have compiled a comprehensive list of top VC Funds and Angel Investors in Egypt that can provide you with the capital and support to help you succeed!
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Why Should You Raise Funds in Egypt?
Startups should consider raising funds in Egypt for the following reasons:
1. Government Support and Investment Incentives
The Egyptian government recognizes the significance of startups in driving economic growth and has, as a response, put in place a number of measures and incentives to encourage the startup environment. In 2023, Egypt's President Abdul Fattah El Sisi declared a five-year tax break for startups. This is part of a campaign to encourage foreign investment in the country's developing startup ecosystem, which has already attracted more than $1.5 billion in investments in the last five years, signaling a 50% growth rate. Another initiative by the Egyptian government is the "Startup Egypt" led by the Ministry of Investment and International Cooperation, which provides mentorship, training, and funding to entrepreneurs. This initiative strives to support and grow the next generation of entrepreneurs.
2. Access to a Large and Growing Market
Egypt is strategically placed at the crossroads of three continents, Europe, Africa, and the Middle East, and is located near vital strategic routes like the Suez Canal. This advantage provides firms wishing to expand internationally with a large market potential as well as access to diverse customer groups. Furthermore, Egypt's population of over 100 million people is a sizable market for companies to enter. Egypt's population is expanding at a rate of roughly 2 million people each year, and the country has the region's third largest economy. There is a significant demand for innovative products and services due to a developing middle class with a median age of 25 years who are extremely responsive to new technology and digital solutions. This provides startups with abundant opportunities to scale their businesses and generate substantial revenue.
3. Abundance of Skilled and Affordable Workforce
Egypt's youthful and skilled workforce is one of its primary draw. The country's expanding pool of talented professionals, paired with an increasing number of technical graduates, provides a solid basis for startups to prosper. This is owing to Egypt's well-established education system, which produces a high number of graduates each year from premier universities and technical institutes such as the American University in Cairo, the British University in Egypt, and Cairo University. This assures a consistent supply of competent personnel who can help businesses develop and succeed. In late 2022, ITIDA signed 29 new agreements with technology multinational corporations, paving the way for 34,000 new employment to be generated within three years. Furthermore, these talent comes at a lower cost than other regional hubs; presenting significant cost advantages for startups. Cairo ranked second in the GSER 2023 for MENA Ecosystems for Affordable Talent, the report's index gauging the capacity to acquire tech talent. The city also ranks third in Talent & Experience, a metric that measures long-term trends in the most important performance indicators as well as the capacity to develop and retain talent in the ecosystem - a tribute to the Egyptian talent pool's strength and trust in the local industry.
Venture Capitalist Funds in Egypt
The venture capital firms below are actively looking for investments in promising companies throughout various stages and sectors. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed.
Year of Inception: 2014
Stage: Pre Seed, Seed
Focus: Technology
Notable Portfolio: Aleph, Milango, Esaal, Yallakora, Paymob
A15 is a pioneering venture capital firm that specializes in digital products and technology companies. A15 is dedicated to empowering the human race and pushing the frontiers of innovation, providing critical support and funding to daring founders embarking on their on their path to influence the future. A15's investment approach is focused on pre-seed and seed stage firms in the digital area. They believe in the potential of early-stage entrepreneurs and provide the resources needed to accelerate their growth.
Year of Inception: 2011
Stage: Seed
Focus: Sector Agnostic
Notable Portfolio: Katteb, Melior, Agel, Fuelin, Copal
Flat6Labs is a well-known seed and early-stage venture funding firm focused on the MENA startup ecosystem. With its headquarters present in Cairo since 2011, Flat6Labs has established itself as a prominent participant in Egypt's entrepreneurial ecosystem. They offer a variety of programs and initiatives to foster and invest in creative enterprises in Egypt, providing them with the resources and coaching they need to build sustainable businesses. Flat6Labs also organizes famous startup programs in conjunction with important organizations such as ESLSCA and GIZ, helping entrepreneurs to establish long-term enterprises in various fields.
Year of Inception: 2017
Stage: Seed
Focus: Technology
Notable Portfolio: Bermoda, Fil Khedma, RecycloBekia, Shezlong
HIMAngel is a venture capital and private equity firm committed to assisting early-stage entrepreneurs in their growth and success by providing more than financial support to its portfolio firms. Their primary structure comprises mentorship and assistance for entrepreneurs, assisting them in developing a strong foundation for their businesses. The firm believes in enabling entrepreneurs to flourish in industries other than technology, such as waste management, manufacturing, and healthcare.
Year of Inception: 2020
Stage: Seed, Series A
Focus: AI, Quantum Computing, Blockchain
Notable Portfolio: Rology
With a vision to foster innovation and entrepreneurship in Egypt, Sequence Ventures aims to identify and support promising startups with disruptive potential. Sequence Ventures' collaborative strategy is one of its highlights, underlining their dedication to actively engaging with entrepreneurs to achieve growth and success. Their hands-on approach includes providing mentorship, strategic guidance, and access to a wide network of industry experts and investors.
Year of Inception: 2021
Stage: Seed, Series A
Focus: FinTech
Notable Portfolio: Khazenly, PharmacyMarts, Klickit, Raseedi, SubsBase
Camel Ventures is an impact venture capital fund that invests in innovative FinTech firms not just in Egypt but also throughout Africa. They present a new strategy to the industry as Egypt's first venture debt and fintech-focused investment vehicle. Like a camel, they exemplify important traits such as resilience and flexibility, which are represented in their investing strategies and decision-making processes.
Year of Inception: 2018
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: Flextock, Nowpay, Abwaab, Trella, Swypex
With a mission to support industry-defining companies, Foundation Ventures plays a crucial role in the growth and development of innovative startups in Egypt. Their investment portfolio includes a diverse range of pioneering companies, each making a significant impact in their respective sectors.
Year of Inception: 2016
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: Dsquares, Goodsmart, Eventtus, Halan, POSrocket, Trella
Algebra Ventures is Egypt's premier technology venture capital firm. Algebra Ventures believes in forming solid collaborations with visionary and resilient founders committed to growing revolutionary businesses. As part of their goal to empower entrepreneurs and enhance people's lives at scale, they are devoted to assisting technology businesses that use innovation to disrupt huge markets. They interact with startups early on, taking the time to understand the team and the opportunity as it develops. The expertise of Algebra Ventures is in interacting with decision-makers and providing the tools and support needed to help entrepreneurs grow.
Year of Inception: 2019
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: Widebot, Shopz, Knawat
Business Valley is an investment management firm focused on aiding entrepreneurs in developing successful firms and cultivating investor partnerships. With a team of dedicated professionals, they provide venture funding and create inspirational work environments for startups. Business Valley seeks to establish a collaborative ecosystem in which entrepreneurs may thrive by providing not just financial assistance but also access to mentorship, office spaces, and consultancy.
Year of Inception: 2011
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: Menthum, Balad, Fez Delivery, Credable, Kashat
Acasia Ventures is a prominent venture capital firm established in Cairo, Egypt, with a regional office in Dubai, UAE. Acasia Ventures is committed to assisting extraordinary founders who are developing highly scalable and sustainable digital solutions for genuine and pressing challenges. With a strong dedication to purpose-driven investments, the business is committed to assisting regional tech creators in achieving their goals. The firm's investing philosophy is around identifying and supporting new ideas that have the potential to have a substantial influence on society and contribute to the growth of Egypt's and the region's technology ecosystem.
Year of Inception: 2021
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: Illa, Rology, Sprints, Elgameya
Cubit Ventures is an early-stage venture fund that seeks to promote and invest in North African tech firms driving digital change, with a special emphasis on Egypt. Cubit Ventures is well-known for its strategic partnership with the Founder Institute, a premier organization that provides assistance and resources to entrepreneurs. With the purpose of empowering and inspiring creators, they seek out innovative entrepreneurs that use technology to bring about good change and growth in the region's economic sector.
Year of Inception: 2017
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: mPharma, Trella, Jetstream, Sendbox, Nowpay
4DX Ventures is an esteemed venture capital firm with a significant presence in Egypt and Ghana. They are dedicated to encouraging innovation and growth by investing in revolutionary technology startups in Africa. Their objective is to bring together people, ideas, and funds in order to build a flourishing African community. They provide not just finance but also strategic, operational, and technical advice to help firms succeed.
Year of Inception: 2021
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: Nexta, Widebot, Cassbana, Fatura, Gahez
Disruptech Ventures is Egypt's top fintech venture capital firm, specializing on early-stage investments in fintech and fintech-enabled firms. As an industry leader, they aspires to encourage innovation and growth in the Egyptian fintech sector. The firm's expertise in the sector not only provides financial support to portfolio firms, but also crucial industry knowledge and contacts to help firms grow.
Year of Inception: 2010
Stage: Seed, Series A, Series B
Focus: Fintech, Edtech, Healthtech, Deeptech, Logistics, e-Commerce
Notable Portfolio: Proteinea, Kashier, MoneyFellows, Goodsmart, Fatura
Sawari Ventures is a renowned venture capital firm that invests in knowledge and innovation-based technologies around the MENA region. Sawari Ventures goes beyond cash investment to provide knowledge and operational support to their portfolio firms. Sawari Ventures has gathered capital from both foreign and local sources to support its investment efforts, with an aim to create economic growth and nurture innovation. With their strong local knowledge and international capital, Sawari Ventures continues to contribute to the growth and success of the North African startup ecosystem.
Year of Inception: 2013
Stage: Seed, Series A, Series B
Focus: Sector Agnostic
Notable Portfolio: Foodera
Investia Capital Group is a leading venture capitalist firm with a remarkable track record in the Egyptian market. Investia Capital Group's unique venture capital approach is one of its primary strengths. They provide equity co-investment options and link entrepreneurs with skilled co-investors, allowing them to have access to the resources needed for growth. Investia Capital Group also focuses on venture development, actively looking out interesting possibilities and providing hands-on coaching to its partners. Their emphasis on optimizing growth paths indicates their commitment to aiding businesses in realizing their maximum potential. With their large network and considerable expertise, Investia Venture Capital has established itself as a reliable partner for firms seeking finance and mentorship in Egypt's thriving entrepreneurial environment.
Year of Inception: 2017
Stage: Seed, Series A, Series B
Focus: Technology
Notable Portfolio: Fatura, Paynas, Educatly, Si-Ware, Gahez, Rology
Egypt Ventures is an investment firm that is critical in boosting the country's entrepreneurial environment. Beyond financial assistance, the venture firm actively contributes to narrowing the gender pay gap, recruiting foreign investments, and adopting environmental, social, and governance (ESG) policies to improve Egypt's standard of living. The firm's success can be attributed to its strategic partnerships and extensive industry knowledge. For instance, they work with top institutions, such as the esteemed financial institution EFG Hermes, to build a fintech-focused business accelerator, which allows entrepreneurs to benefit from both organisations' combined experience and resources.
Year of Inception: 2018
Stage: Series A, Series B, Series C
Focus: Fintech, Digital Health, Edtech, Foodtech, Insurtech, Cyber Security, Web3, Mobility & Logistics, Infotech, Future of work, eCommerce, Agritech
Notable Portfolio: Cartona, Paymob, Nowpay, SubsBase
Global Ventures is a forward-thinking venture capital firm that seeks to assist globally oriented, growth-stage, and technology-focused founders in emerging markets such as Egypt. Global Ventures' objective is to encourage big ideas with a major impact by investing in both founders and ideas that have the potential to promote growth and innovation in the region. They take a hands-on approach to value creation, collaborating with entrepreneurs to help them expand sustainably and ensuring that they have the essential direction and support to thrive.
Angel Investors in Egypt
Angel investors may act as an individual or as a syndicate to fund projects of their preference, so these networks are the best opportunity for you to find a potential Angel with an aligned vision and interests.
Stage: Seed
Focus: Sector Agnostic
Notable Portfolio: Voo, Nawah Scientific, Cryptyd, Tayary, Contrato
The Alexandria Business Angels Network founded in 2016 with the sole purpose of assisting local businesses by providing them with resources and opportunities. The network focuses on seed-stage investments in promising early-stage startups from Egypt and the surrounding countries. With a strong business case in mind, the network has invested in over 20 startups and closed 5 syndicated deals to date.
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: Nawah Scientific, Swaplanet, Orcas Tutoring
Acasia Angels, established in 2012, is a famous angel group dedicated to assisting early-stage entrepreneurs in Egypt. Acasia Angels aims to foster a healthy entrepreneurial ecosystem in Egypt and the wider MENA region by helping exceptional entrepreneurs building high-growth enterprises through financing, mentorship, and access to networks. With their significant industry knowledge and broad network of angel investors, Acasia Angels provides vital support to entrepreneurs.
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: -
VFlock is a premier angel investing network that connects startups with investors. The network was created to link companies and investors at various phases of development, allowing smart investments and creating exceptional relationships. Their powerful platform connects entrepreneurs with the right partners that can provide value through industry knowledge, connections, funding, and skills. They offer a streamlined process for joining the network, finding compatible partners, and initiating communication.
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: Buseet, Consoleya, HireHunt, Slickr, ShareMyRide
Kamelizer is an angel investment fund that provides technology businesses with a variety of services and skills. Kamelizer focuses on assisting founders in developing their ideas and translating them into profitable companies. Their investment portfolio encompasses several areas, with a focus on two in particular: the Sharing Economy and Cloud services for SMBs (Small and Medium-sized Businesses). Kamelizer intends to help the creation and expansion of creative solutions that serve the increasing demands of companies and consumers alike. Kamelizer's angel investment studio not only gives financial assistance, but also guides and mentors entrepreneurs, assisting them in overcoming hurdles and achieving long-term success.
Closing Thoughts on VCs and Angel Investors in Egypt
Egypt has evolved as a dynamic startup ecosystem, offering unique benefits that attract both entrepreneurs and investors. The country's youthful and skilled workforce, strategic location, government assistance, and cheap operational expenses provide an environment conducive to startup growth. Egypt's rising market, investment prospects, and startup success stories emphasize the enormous potential for entrepreneurs and investors.
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