• Avanz Capital Egypt (ACE) has joined Algebra Ventures’ second fund as a Limited Partner through a secondary transaction executed via its direct investment arm Avanz Manara, marking one of the first secondary LP deals in Egypt.
• Algebra Ventures, which raised a $100M Fund II in 2022, continues to back Egypt’s most promising tech founders.
• The collaboration with Avanz will deepen capital inflows, drive innovation, and strengthen support for startups shaping Egypt and Africa’s digital future.

Press release:

Avanz Capital Egypt (ACE), a leading private capital asset management firm, has joined Algebra Ventures’ second fund as a Limited Partner through a secondary transaction executed via its direct investment company, Avanz Manara. The move marks a strategic partnership between two key players in Egypt’s investment landscape and sends a strong signal of confidence in the country’s venture capital ecosystem.

Haytham Wagih, Managing Director at Avanz Capital Egypt, commented: “We are proud to partner with Egypt’s leading tech-focused venture capital firm. This transaction represents not only one of the first secondary LP investments in Egypt, but also a milestone that reflects the strength and growth of the local ecosystem. Algebra has consistently pioneered venture capital in Egypt, backing some of the country’s most notable startups. Joining its second fund aligns perfectly with our strategy to support Egypt’s entrepreneurial ecosystem while also capturing opportunities across the wider African continent.”

Tarek Assaad, Managing Partner at Algebra Ventures, said: “As pioneers of secondary transactions, Avanz brings both experience and commitment to our fund, and we are proud to welcome them as LPs in Fund II. Avanz has long been bullish on supporting the growing VC landscape in Egypt. We have built a strong relationship with the team over the years through joint investments and deeply appreciate our growing partnership. Together, we are excited to continue supporting visionary tech founders in Egypt and across Africa, helping them shape the future.”

This partnership underscores the growing confidence in Egypt’s startup ecosystem. Algebra Ventures and Avanz Capital Egypt are not only breaking new ground with a significant LP-led secondary transaction, but also paving the way for deeper collaboration, greater capital inflows, and stronger support for the next generation of entrepreneurs driving innovation across Egypt and Africa.