Egypt’s Sawari Ventures to launch a $150 million fund

Egypt's Sawari Ventures 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.

He said that the firm is targeting various sectors, including healthcare, fintech, education, green technology, and deep tech projects — anticipating sustained growth in these sectors within Egypt.

Al Sanbati 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, he 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 Sawari Ventures's ambition for Egypt to emerge as a pivotal investment hub in Africa and the broader region, noting that they have invested in approximately 500 startups since the firm's establishment in the Arab world.

"Exiting forms an integral part of our company's strategy to inject investments into other ventures," he said.

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. The firm has also invested in a few digital health startups, including Docspert Health and Proteinea.