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Tuesday, 20 October 2020

VC firm Openner to invest USD 5 mn in 50 Egyptian tech startups in two years

INVESTMENT WATCH- US-based venture capitalist Openner is planning to invest USD 5 mn in Egyptian startups over the next two years, general partner Ash Rofael told Hapi Journal. Openner will be looking to purchase stakes of 8-10% in up to 50 companies, with an eye to unlock their growth potential in cooperation with government bodies including the ICT Ministry’s ITIDA and several private institutions, Rofael said. The company also plans to take part in conferences and expos in Egypt including November’s Cairo ICT.

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