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Sunday, July 21, 2024

Sawari Ventures to Launch USD150Million Fund to Invest in Egyptian startups

Dr. Nagla Dowidar

Sawari Ventures, an investment company, has announced plans to launch a new fund with an investment target of approximately $150 million in Egyptian startups, as stated by CEO and co-founder Hani Al Sanbati. 

Al Sanbati emphasized in an official statement that Sawari Ventures is targeting various sectors, including fintech, education, healthcare, green technology, and deep tech projects, anticipating sustained growth in these sectors within Egypt.

He highlighted that the present time presents optimal conditions for investing in technology companies, affirming that current economic circumstances will not impede further investments by stakeholders in these ventures. Moreover, Al Sanbati added that initial challenges encountered by startups will not significantly impede their growth.

Projections suggest that startups supported by Sawari Ventures will attract investments ranging from $350 million to $500 million over the next five years. 

Al Sanbati underscored the company’s ambition for Egypt to emerge as a pivotal investment hub in Africa and the broader region, noting that Sawari has invested in approximately 500 startups since its establishment in the Arab world.

He explained that Sawari Ventures operates within a framework aimed at catalyzing investments and priming companies to receive new funding. 

Al Sanbati indicated, “Exiting forms an integral part of our company’s strategy to inject investments into other ventures,” noting ongoing discussions regarding the potential exit from certain companies within a year and a half, provided these firms sustain growth with new investors.

Approximately 35% of Sawari Ventures’ portfolio is allocated to the fintech sector, with a focus on digitizing the Egyptian economy and reshaping financial inclusivity trends.

Established in Egypt in 2010, Sawari Ventures has emerged as a leading venture capital firm in the country, backing over 30 companies including Swvl, MoneyFellows, Instabug, Si-Ware, and Elves.

Dr. Nagla Dowidar
Dr. Nagla Dowidar
Dr. Nagla Dowidar is a dynamic professional with a diverse skill set encompassing academia, learning resources, and technology. Serving as the Bureau Chief for Egypt at GCCStartup.News and holding the position of Managing Director for Egypt at RiseBack.org, Dr. Dowidar is a dedicated advocate for accessible education. RiseBack.org, under her leadership, focuses on facilitating affordable undergraduate and graduate/master's programs in collaboration with accredited Indian universities, offering starting fees as low as $60 per month. As a technology enthusiast and innovative team leader, Dr. Dowidar not only contributes to disseminating information about startups and innovation within the Gulf Cooperation Council (GCC) region but also stands out as a trainer, utilizing her expertise to empower individuals with knowledge. Her commitment to breaking barriers in education and fostering creativity makes her a notable figure in both academic and technology circles.

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