Cairo –  UK-based VC firm Development Partners International (DPI) has acquired Nclude, an Egypt-based fintech fund by Global Ventures, according to a press release.

Following the transaction, DPI took over the investment advisory responsibilities of the fund, which is the largest fintech-focused fund in Africa.

The launch of DPI Venture Capital and the completion of the Nclude transaction anchors DPI’s position as the premier Africa-focused private investment adviser.

DPI has invested around $850 million in Egypt in the last decade and has seen the power of digitization via portfolio companies such as MNT Halan and Kazyon.

Runa Alam, DPI Co-Founder and CEO, said: “The platform provides our limited partners with the opportunity to invest in Africa’s most exciting companies from their very beginning.”

“The completion of the Nclude transaction is an opportunity to build on the success of our previous investments in technology-led companies and will empower our investors to add exposure to highly innovative growth-oriented businesses,” Alam mentioned.

Founded in March 2022, Nclude has invested over $28 million across nine transactions, including companies such as Paymob, Khazna, Flapkap, and Connect Money.

Source: Mubasher

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