Egypt: Camel Ventures announces the opening of a $16 million fund for Egyptian fintech startups

Camel Ventures, based in Egypt, has revealed the launch of Camel Ventures for Investment I, its first venture capital investment vehicle. (CVI).

The EGP 500 million (about $16 million) fund finances the country’s fintech startup ecosystem. It does this through various equity investments and venture loans in local currency for early-stage and later-stage startups, respectively.

The Egyptian Financial Regulatory Authority is in charge of CVI, and banks, financial companies, and family offices from Egypt and the GCC are among the investors who back it.

Shehab Marzban, Mona El Sayed, and Mahmoud El-Zohairy are on the management team. They worked with Al Ahly Capital Holding and dfin Holding to build CVI, Egypt’s first investor focused on fintech.

The CVI team has already made 10 investments in different sectors in Egypt, including Khazenly and Pharmacy Marts, and clicked on it. They plan to work closely with regulators, investors, peer VCs, and service providers to drive sustainable growth and value for their investments and the fintech ecosystem.

This change will likely help Egypt’s fintech startups grow and bring more investors to the tech scene in the country.