GIZ to invest up to EUR 100 mn in young VCs: GIZ Egypt has partnered with the government’s Micro, Small and Medium Enterprises Development Agency (MSMEDA), Endure Capital, and Changelabs to launch VC University, a EUR 100 mn funding program for first-time venture capital funds, Wamda reports. The program will invest in VC funds as a limited partner, with an eye to expand the local VC industry and increase investments into Egyptian startups, “especially those at their earliest stages,” said Ali Saleh, head of young enterprise finance at GIZ Egypt.

The program targets funds based locally or in the MENA region — provided they have plans to invest in Egyptian startups. Three to four fund managers will be selected, with the ticket size per fund ranging from EUR 25-30 mn each.

What should selected fund managers expect? The one-year program will offer funding, mentorship and access to worldwide investors for prospective fund managers, while MSMEDA will provide technical support. The program will also train fund managers on how to raise capital and overcome various challenges in the industry, Saleh said.