Back to the complete issue
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.

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. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; and Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Abu Auf (tax ID: 584-628-846), the leading health foodmaker in Egypt and the region.