Cairo Angels launches US$3M micro VC fund for early stage startups in MEA

EGYPT – Cairo Angels, an angel network that invests in Egyptian startups, has launched a US$3 million (EGP47.07 million) micro venture capital (VC) fund that will invest in early-stage startups in the Middle East and Africa aiming to back up and support the growth of local and regional startups at the pre-Series A stage. Under the name Cairo Syndicate Fund, the new arm will focus mainly on Egypt, Saudi Arabia, and the UAE, and is expected to make its first investment in January 2021 and fully deploy within 24 months…

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