Sawari Ventures, the Cairo-based VC, has announced the final closure of its Egypt-focused fund, with a new commitment of EGP 440 million ($28 million), from Misr Insurance Group, Ekuity, National Bank of Egypt, Banque Misr, Banque du Caire, and Suez Canal Bank.

The fund previously closed EGP 650 million ($41 million) from European Investment Bank, CDC, Proparco, DGGF which is managed by the South African fund Sango Capital, increasing the total fund size to around $69 million to invest...