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Tuesday, 15 September 2020

US VC firm Openner to launch accelerator in Egypt

STARTUP WATCH- US VC firm Openner to launch accelerator in Egypt: Washington, DC-based venture capital outfit Openner will establish an accelerator in Egypt and invest in 50 local startups, it said in a statement (pdf) early this morning. The statement doesn’t specify when the company will launch the accelerator or provide a target investment figure, but says that a number of Egyptian startups have requested direct and indirect financing from the firm. Since 4Q2016, Openner has invested USD 25 mn in more than 100 tech-focused US companies.

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