US-based VC firm acquires Egyptian angel investment syndicate
Sultan Ventures has acquired the Egyptian angel investment syndicate and incubator, Acasia Group.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
US-based VC firm Sultan Ventures has acquired the Egyptian angel investment syndicate and incubator, Acasia Group, for an unknown value.
Founded in 2011 as Cairo Angels, Acasia Group is a multi-incubator operator and a regional angel investment syndicate that empowers Egyptian and regional entrepreneurs.
Founded in 2009, Sultan Ventures is a VC firm specialising in early-stage investment, innovation programmes, and startup ecosystem building.
Acasia Ventures will not be part of the acquisition, as a few months ago, the shareholders of Acasia Ventures and Acasia Group entered into a separation agreement whereby Acasia Ventures would remain 100% owned by Aly El Shalakany and led by Biola Alabi and Aly El Shalakany as the general partners.
“This acquisition marks an exciting new chapter for Acasia,” said Hossam Allam, chairman of Acasia Group. “What began 14 years ago as a grassroots initiative under Cairo Angels has grown into a regional leader, operating across every aspect of the venture continuum in the Middle East and Africa. The acquisition by Sultan Ventures enables Acasia to scale faster and tackle the region’s biggest challenges, amplifying impact and scaling early-stage ventures and deep-tech commercialisation.”
“Sultan Ventures’ proven track record in venture acceleration combined with Acasia’s local experience creates a winning partnership designed to enhance ecosystem development,” said Omar Sultan, managing partner of Sultan Ventures. “Acasia has built an enviable reputation for empowering startups and cultivating ecosystems in emerging markets. This acquisition creates a new US-MENA bridge and opens a door for thousands of founders seeking to bring ideas to market.”
Stay ahead in Africa's private equity and venture capital sector with Africa Private Equity News’ monthly Dealmaker’s Log.