Sequence Ventures launches new fund

The fund plans to invest in Egyptian startups

  
A man walks past a currency exchange bureau advertisement showing an image of the U.S. dollar in Cairo, Egypt October 13, 2016. Image for illustrative purposes.

A man walks past a currency exchange bureau advertisement showing an image of the U.S. dollar in Cairo, Egypt October 13, 2016. Image for illustrative purposes.

REUTERS/Mohamed Abd El Ghany
ArabFinance: Sequence Ventures has launched a new EGP 500 million fund dubbed Egypt Deep-Tech, the company said in a press release.

The fund plans to invest in Egyptian startups operating in health-tech, fintech, ed-tech, prop-tech, logistics, and DevOps.

It also aims to raise between EPG 100-150 million by its first close, which is expected to wrap up before the year is out.

Sequence Ventures has created strategic alliances with 45 VCs and accelerators in four main base regions, the United Kingdom, Germany, the Netherlands, and Russia.

The strategic alliances have to serve as an asset to the startups in our portfolio as they offer to matchmake and later on exit options for Egyptian startups in Europe, such as acquisitions.

Established in 2019, Sequence Ventures is an early-stage venture capital firm focused on supporting young homegrown talent and Egyptian entrepreneurs building technology startups.

It is one of the first venture capital firms in the Middle East and North Africa to focus on technology-based startups

 

Copyright © 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Funds