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.
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