Foundation Ventures launches its debut Egypt-focused fund with four investments
Egyptian venture capital firm Foundation Ventures has officially launched its first fund focused on early-stage Egyptian investments ranging from pre-seed to series A. The fund is backed by some of the largest family offices and business leaders from Egypt and the MENA region. The strategy utilises local know-how and private capital to support and build solid foundations for its portfolio.
Foundation Ventures is a regional venture capital firm that was founded in early 2019 and is managed by Mazen Nadim, Omar Barakat, and Ziyad Hamdy, in partnership with HOF Capital, a US-based VC firm, and BPE Partners, an Egyptian private equity company.
Foundation Ventures has so far led and co-led four deals during its initial deployment, investing in two fintech companies, one in consumer internet/entertainment, and one in logistics (operating in stealth):
– Capiter: a B2B marketplace that offers F&B and agriculture merchants on-demand data-driven cash flow and credit solutions to purchase products from suppliers on credit.
– NowPay: a startup that provides employee financial wellness services by partnering with employers and working alongside their HR departments to improve employees’ lives, retention, engagement, and workplace productivity.
– Minly: an online platform that empowers celebrities to create authentic, personalised connections with fans across the MENA region.
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