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Thursday, 28 February 2019

Flat6Labs to triple investment fund capital by 2Q2019

Cairo-based incubator Flat6Labs plans to triple the capitalization of its investment fund to EGP 150 mn during 2Q2019, according to statements from Chief Investment Officer Dina El-Shenoufy reported by the local press. This will involve increasing its capital by a further EGP 100 mn. The startup accelerator is also aiming to graduate eight startups from its incubation program this June, and 16-18 startups by the end of the year. El Shenoufy also said that the company is aspiring to increase its investments in each startup to EGP 500-750k from EGP 350k.

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