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VC Firm Launches $16m Fund Focused on Egypt’s Fintech Startup Ecosystem

Camel Ventures is backed by institutions in the fintech space and the financial services arena in Egypt – dfin Holding and Al Ahly Capital Holding. Its first investment vehicle, Camel Ventures for Investment I (CVI), is focused on financing Egypt’s growing fintech startup ecosystem. Regulated by the Egyptian Financial Regulatory Authority, the fund provides both equity investments for early-stage startups, as well as venture debt denominated in local currency for later-stage startups. It is backed by investors that include banks, financial institutions, and family offices based in Egypt and the GCC. The fund has already made 10 investments in various sectors, including in Khazenly, Pharmacy Marts, and klickit.

SOURCE: DISRUPT AFRICA