After focusing on North Africa since its launch in 2010, the Egyptian VC firm plans to gradually expand its operations into sub-Saharan Africa, starting with Kenya and some West African countries.
Egyptian venture capital firm Sawari Ventures is launching a new $200 million fund. With Sawari Ventures II, the company will invest in sub-Saharan African startups for the first time, according to a report by Enterprise News on October 22, citing a company spokesperson.
“As with our first fund, this will be a dual structure, consisting of an Egypt-based fund that brings together Egyptian investors to focus on Egypt, and a foreign-based fund, attracting international investors and development finance institutions (DFIs) to cover Egypt, Tunisia, Morocco, Kenya, and West Africa,” the representative explained.
However, Egypt will remain the primary focus, with 70% of the investments—about $140 million—going to local startups over the next four to five years. Sawari Ventures II will prioritize startups in growth stages (Series A and B), with a smaller portion allocated to early-stage ventures.
Key sectors include fintech, deeptech, edtech, healthtech, climate tech, and agritech. Sawari Ventures expects the first closing of the fund by early 2025. So far, the firm's investments have been limited to Egypt, Tunisia, and Morocco.
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
• Ghana signs a deal with eLearning Africa to expand digital learning access across the country.• The partnership focuses on deploying modern digital...
Ghana launches the Oncology Nurse Leadership Program (ONLEP) to train specialized oncology nurses from seven African countries. The five-year...
Ivanhoe Mines signs deal covering 100% of Kamoa-Kakula smelter’s copper output. The smelter will process up to 500,000 tonnes annually, starting at...
African gas projects drive significant contracts for Asian shipbuilders, especially for Floating Liquefied Natural Gas (FLNG) units. South Korean...
Kolmanskop offers a haunting blend of lost wealth, colonial history, and the unstoppable force of nature. Located just a few kilometers inland from...
Located about 40 kilometers from Cape Town’s city center, Boulders Beach in Simon’s Town is one of the Cape Peninsula’s most iconic destinations. This...