Egypt-based venture capital firm (VC) Foundation Ventures has launched an early-stage fund to back Egyptian startups, offering investments ranging from pre-seed to Series A.
The VC has so far invested in four startups companies; two in fintech (NowPay and Capiter), one in entertainment tech (Minly), and one in logistics currently operating in stealth mode.
Foundation Ventures is managed by Mazen Nadim, Omar Barakat, and Ziyad Hamdy, in partnership with US-based VC firm HOF Capital, and Egypt-based private equity firm BPE Partners. The fund is backed by some of the largest family offices and business leaders from Egypt and the Middle East and North Africa (Mena) region.
Being part of the FV’s network, FV will help its portfolio companies scale up quickly by enabling them to access and utilise the resources of its limited partners and enterprise partners, expand their reach and product offering, access top industry experts and potential investors.