Arab Finance: Sawari Ventures, one of Egypt’s venture capital firms, is investing $30 million to launch two funds next year under its Sawari Ventures 2 initiative, CEO and co-founder Hany Al-Sonbaty told Asharq Business.

The firm will introduce one of the funds in dollars and the other in local currency, both aimed at investing in startups and fintech companies across Egypt and Africa, Al-Sonbaty added.

He also noted that  Sawari Ventures is planning to raise $200 million, which will represent the total targeted investment for the two upcoming funds over the next three to four years.

The company currently operates five investment funds, with assets between $150 million and $160 million.

These funds target companies in various growth stages, with some directly managed by Sawari Ventures, while others are overseen by Flat6Labs.

Since its founding in 2010, Sawari Ventures has supported more than 30 companies, including notable names like Swvl, Money Fellows, Fatura, Mentor, and Adva.

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