Sawari Ventures, a prominent investment company, has announced its ambitious plans to launch a new fund with a targeted investment of approximately $150 million, dedicated to fostering the growth of Egyptian startups. The CEO and co-founder of Sawari Ventures, Hani Al Sanbati, highlighted the company’s strategic focus on various sectors, including fintech, education, healthcare, green technology, and deep tech projects, anticipating substantial growth in these areas within the Egyptian entrepreneurial landscape.
In an official statement, Al Sanbati expressed confidence in the present conducive conditions for investing in technology companies, affirming that prevailing economic circumstances would not hinder further investments by stakeholders in these ventures. He emphasized that initial challenges faced by startups are not insurmountable obstacles to their long-term growth.
Projections indicate that startups backed by Sawari Ventures are poised to attract investments ranging from $350 million to $500 million over the next five years, underscoring the company’s commitment to fueling innovation and economic development in Egypt.
Al Sanbati outlined Sawari Ventures’ broader ambition for Egypt to become a pivotal investment hub in Africa and the wider region. With a track record of investing in approximately 500 startups since its establishment in the Arab world, Sawari Ventures operates within a framework aimed at catalyzing investments and preparing companies to attract new funding.
Addressing the exit strategy, Al Sanbati emphasized its integral role in the company’s overall strategy to reinvest in other ventures. Ongoing discussions about potential exits from certain companies within a year and a half are in progress, contingent on sustained growth and new investor partnerships.
Approximately 35 percent of Sawari Ventures’ portfolio is dedicated to the fintech sector, with a specific focus on digitizing the Egyptian economy and reshaping trends in financial inclusivity. Since its establishment in 2010, Sawari Ventures has emerged as a leading venture capital firm in Egypt, backing over 30 companies, including notable names such as Swvl, MoneyFellows, Instabug, Si-Ware, and Elves.
Sawari Ventures’ commitment to nurturing innovation and driving economic growth aligns with the broader vision of transforming Egypt into a thriving hub for startups and technological advancements, marking a significant milestone in the evolution of the country’s entrepreneurial ecosystem.
