Avanz Capital Egypt, a leading private capital asset management firm, has officially joined Algebra Ventures’ second fund as a limited partner (LP) through a strategic secondary transaction executed via its direct investment arm, Avanz Manara. This move marks a significant milestone in Egypt’s venture capital landscape, representing one of the first secondary LP investments in the country.
Haytham Wagih, Managing Director at Avanz Capital Egypt, expressed enthusiasm about the partnership:
We are proud to collaborate with Egypt’s foremost tech-focused venture capital firm. This transaction not only signifies a pioneering moment for secondary LP investments in Egypt, but also underscores the strength and momentum of the local startup ecosystem. Algebra Ventures has consistently led the way in backing some of Egypt’s most impactful startups. Joining their second fund aligns seamlessly with our strategy to empower the entrepreneurial ecosystem in Egypt while also tapping into broader opportunities across the African continent.
Algebra Ventures, known for its early-stage investments in high-growth technology startups, welcomed Avanz Capital Egypt as a strategic partner in Fund II.
Tarek Assaad, Managing Partner at Algebra Ventures, commented:
Avanz brings deep experience and a strong commitment to the venture capital space, and we’re thrilled to welcome them as LPs in our second fund. Their pioneering role in secondary transactions and long-standing support for Egypt’s VC ecosystem make them an ideal partner. Over the years, we’ve built a solid relationship through joint investments, and we deeply value this growing collaboration. Together, we look forward to continuing our mission of supporting visionary tech founders in Egypt and across Africa.
Algebra Ventures Fund II continues to attract strong institutional interest, reinforcing its position as a key player in the region’s innovation economy. The partnership with Avanz Capital Egypt is expected to further strengthen the fund’s capacity to support scalable, tech-driven ventures across emerging markets.
