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Thursday, 8 November 2018

New York-based Modus Capital launches in Egypt

INVESTMENT WATCH- New York-based Modus Capital launches in Egypt: Entrepreneurial venture capital firm Modus Capital, established in 2015, announced on Wednesday the official launch of its operations in Egypt. “We intend to work closely with our local partners to build the ecosystem, drive positive social change, whilst generating profits for investors,” Modus’ Managing Partner and founder Kareem Elsirafy said in a statement. Elsirafy, who did a stint in the US Marine Corps, is a Columbia grad who did a year abroad at AUC. The outfit is reportedly targeting a 60:40 split between SMEs and startups.

What Modus likes: Fintech, marketing technology, blockchain protocol applications, enterprise and consumer Saas, health IT and direct-to-consumer

Ticket sizes: As little as USD 50k in seed rounds, up to USD 5 mn invested opportunistically. The firm says it’s looking for “10-40% as a large minority” shareholder.

Tap here to learn more about their portfolio companies (including current holdings and exits) or here to see who else is on their team.

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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