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Algebra Ventures launches $90m fund for startups in Egypt, MEA

Algebra Ventures launches $90m fund for startups in Egypt, MEA
Algebra Ventures launched its first fund at a value of $54 million countries

Cairo – Mubasher: Algebra Ventures announced the launch of its $90 million second fund for investing in startups mainly in Egypt, along with countries in the Middle East and Africa (MEA).

The Egyptian venture capital (VC) firm plans to close its first fund by the third quarter (Q3) of 2021, according to a statement on Tuesday.

In four years, Algebra Ventures launched its first fund at a value of $54 million and supported 21 startups as well as entrepreneurs.

The new fund will focus on financial technology, agricultural technology, logistics, and healthcare.