Openner.vc, a Washington DC-based pre-seed and seed venture capital firm focused on investing in tech startups globally, is entering Egypt with its accelerator program with plans to invest in 50 Egyptian startups.
The fund has deployed $25 million in over 100 portfolio companies in the US since Q4-2016, with an aggregate valuation of $2.95 billion.
According to Founder and General Partner of Openner Ash Rofail, “We have a very strong and proven track record building companies that have exited or have become leaders in their target industries, with 10% of our portfolio companies exiting within three years of operation. Openner is entering the Egyptian market because it believes in its geographic and cultural centrality, and its promising tech talent.”
Openner says founders in its accelerator program will fully concentrate on sales and customer acquisition, while it does marketing, engineering, UX/UI and public relations functions for them. The Openner.vc applications are open all-year round and each portfolio startup will be subject to a custom-designed program tailored to its needs, combining cash injection, mentorship, resources, tech among others. with over 100 startups.
The accelerator helps transform pre-seed and seed startups with a minimum viable product (MVP) into growth and/or acquisition-ready sustainable, resilient and scalable businesses.
“We want startups to organically grow into revenue generating companies without having to raise funds, match them with a strategic investor when they are ready for rapid growth and position them as acquisition-ready,” said.
The accelerator offers seed funding, technical product development, business development, legal, operations, backoffice as well as a partnership with Amazon Web Services (AWS) and others, in addition to strategic guidance from top international executives who have exited their companies or repeat founders, to help its ventures on fundraising, licensing deals and acquisition.
Openner historically co-invested with Andreesen Horrowitz, NEA, Sequoia, Khosla Ventures, YCombinator, Goldman Sachs and several other global top-tier VCs, and its portfolio companies received follow-up investments from ExxonMobil, Mastercard, CitiVentures and other multinationals, as well as from dozens of tier-1, US-based VCs.
Applications are ongoing all-year-round here: https://openner.vc/apply/.