Cairo-based venture capital firm Foundation Ventures has launched a new $25 million fund, FVFII, to support startups in Egypt, with additional allocation for businesses across Africa.
The fund aims to help companies progress from early-stage development to regional and global expansion.
Several prominent investors have contributed to the fund, including the Egyptian-American Enterprise Fund (EAEF), the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), and Egyptian businessman Onsi Sawiris.
MSMEDA has committed $3 million, aligning with its broader initiative to back high-growth startups and strengthen Egypt’s entrepreneurial ecosystem.
Egypt’s startup environment continues to gain traction, supported by a strong pool of tech talent and a growing economy.
Mazen Nadim, Managing Partner at Foundation Ventures, emphasized that the country offers a unique opportunity for innovation due to its skilled workforce and economic conditions.
He noted that the devaluation of the local currency provides startups access to high-quality talent at a competitive cost, making Egypt an attractive testing ground for new ideas.
Nadim also highlighted how recent market fluctuations have distinguished well-structured startups from weaker ones.
He also noted that the current generation of entrepreneurs is adapting to economic challenges by focusing on capital efficiency, sustainability, and operational excellence, which will shape the next wave of successful companies.
Beyond capital, Foundation Ventures connects startups with Egypt’s largest corporate networks, helping them establish a strong presence locally before expanding to broader markets.
The firm actively links founders with key business partners, allowing them to refine their strategies in real life.
Yasmin Gabriel, Investment Director at EAEF, expressed confidence in Foundation Ventures’ leadership team, stating that their involvement in the fund aligns with a commitment to backing entrepreneurs who drive innovation in the region.
With this latest fund, Foundation Ventures continues strengthening Egypt’s venture capital sector, supporting local founders and contributing to long-term economic growth.
This post first appeared here.
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