STARTUP WATCH- Disruptech to acquire minority stake in unnamed fintech startup: Former Fawry CEO Mohamed Okasha’s USD 25 mn fintech fund, Disruptech, will soon add a fourth startup to its portfolio year after closing a USD 500k investment in an unnamed fintech company by the end of October, Okasha told Al Mal. Disruptech earlier this year invested an unspecified six-figure sum in Egyptian startups Khazna and Brimore and led an investment round for e-commerce platform Fatura that raised over USD 1 mn. Disruptech is aiming to invest USD 5 mn in fintech startups in 2020 and USD 25 mn over the next five years.

Disruptech is planning to acquire minority stakes of 5-10% in 15-18 companies over the next three years as part of a three-stage investment strategy, Okasha said. Further financing would then be provided to its existing portfolio companies in the second stage of the fund’s strategy, which is expected to last up to two years. The third and final stage will see the fund exit from its investments.