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Camel Ventures launches $16 million fund to support fintech in Egypt

Egypt-based Camel Venture, an Impact Venture Capital Fund focusing on investing in promising FinTech startups in Egypt and across Africa.s has launched an EGP 500 million Venture Capital Investment Vehicle, dubbed Camel Ventures for Investment I (CVI),

The new VC fund will focus on financing Egypt’s growing fintech startup ecosystem. Regulated by the Egyptian Financial Regulatory Authority, CVI provides both equity investments for early-stage startups, as well as venture debt denominated in local currency for later-stage startups.

CVI is backed by a diverse group of investors, including banks, financial institutions, and family offices based in Egypt and the GCC. The Founding and Managing Team – made up of Shehab Marzban, Mona El Sayed, and Mahmoud El-Zohairy – partnered with Al Ahly Capital Holding and dfin Holding to create CVI as the first fintech-focused investor in Egypt.

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CVI has already made ten investments in various sectors across Egypt, including Khazenly, Pharmacy Marts, and klickit.

Milcah Lukhanyu
Milcah Lukhanyuhttps://techmoran.com
I cover tech news across Africa. Drop me an email at [email protected]

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