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Wednesday, 31 January 2018

2017, a landmark year for the Egyptian-American Enterprise Fund

Egyptian-American Enterprise Fund’s annual letter is out: 2017 proved to be an important year for the Egyptian-American Enterprise Fund (EAEF): The two first-time funds it seeded — midmarket player TCV and Algebra Ventures — invested in six companies in fintech, agribusiness, and food industries, EAEF said in its annual shareholders letter (pdf). The fund also partnered with the International Finance Corporation and Egypt Ventures to provide incubator Flat6Labs with USD 500k in funding, helping graduate eight startups from its latest cycle. It’s consumer finance company, Sarwa Capital, completed its USD 68 mn securitization and launched a mortgage finance business last year.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

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