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Tuesday, 6 December 2016

Menagurus to invest EGP 100 mn in up to 20 regional startups

In other VC news, Menagurus has signed a preliminary agreement to fund three Egyptian startups taking part in the RiseUp Summit on Thursday, said Menagurus co-founder Hisham Abdel Ghaffar who didn’t name the target companies. The firm plans to invest EGP 100 mn in up to 20 startups in Egypt, Saudi Arabia and Lebanon in three to five years, he tells Al Mal. The company looks to invest EGP 3.3 mn for a 30-45% equity stake in its target companies.

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