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Home Startups Sequence Ventures launches a $31 million deeptech fund to fund Egyptian startups.

Sequence Ventures launches a $31 million deeptech fund to fund Egyptian startups.

by Weddy Thuranira
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Sequence Ventures has launched Egypt Deep-Tech, a new EGP500 million ($31 million) venture capital fund. The fund aims to invest in health-tech, fintech, ed-tech, prop-tech, logistics, and DevOps startups in Egypt. It intends to raise between EPG 100 and 150 by the end of its first close, which is likely before the end of the year.

Founded in 2019, Sequence Ventures invests exclusively in Egypt’s pre-Seed to Series A stage. It has partnered with 45 venture capitalists and accelerators across four major base regions: the United Kingdom, Germany, the Netherlands, and Russia.

The company also engages a team of four technical advisors who are experts in fields such as artificial intelligence and blockchain, and who assist in the screening of companies and the selection of potential investments.

Carbon Holdings Managing Director Karim Helal serves as executive chairman, while capital markets veteran Maged Shawky, the former executive chairman of Beltone, serves on the management board of Sequence Ventures, which was founded in 2019. Ironwood Investments’ managing director, Mohamed El Sherif, is a founding partner, and his Ironwood co-founder, Mohamed Fahmy, is also a managing partner.

Mohsen Mahgoub, Mohamed ElSewedy, Salma ElSaidy, Ayman Korra, Ahmed Shalaby, and Sohair Awad are on the advisory board.

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