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Egyptian Investors Look to the Rest of Africa

Egyptian VC firm Algebra Ventures is planning on making its first investments in East and West Africa once it raises its second fund, which has a target size of US$90 million. Four years into its first US$54 million fund, the firm has invested in 21 startups, including Trella, elmenus, GoodsMart, and Halan, creating over 20,000 direct and indirect jobs. Its six most established companies are valued at over US$350 million. Co-managing partner Karim Hussein told Disrupt Africa the new fund will see Algebra broaden its scope somewhat, with the firm remaining focused on Egypt but also looking at making some investments in additional African countries as well as the Middle East. Algebra Ventures works closely with its portfolio companies, providing capital as well as assisting with strategy and operations. It has also supported the hiring of a number of C-level executives for its portfolio companies and will continue to invest in growing its talent pool, ensuring that the most qualified and ambitious individuals continue to join Algebra’s portfolio. The new fund will pursue opportunities in fintech, agri-tech, ed-tech, logistics and healthcare by partnering with high-potential founders to address specific market gaps in these sectors.