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Tuesday, 6 July 2021

Algebra Ventures taps Laila Hassan, Omar Khashaba as new GPs + Al Mansour Automotive gets new CEO

Algebra Ventures has tapped Laila Hassan (LinkedIn) and Omar Khashaba (LinkedIn) as general partners for its second, USD 90 mn fund, it said in a press release (pdf). Hassan will join Algebra later this year from 500 Startups, where she had played a key role in executing follow-on strategy for the global VC firm’s MENA-focused fund. Khashaba, meanwhile, joined Algebra in 2018, and was recently promoted to the role of principal in the firm’s first fund. “As we launch our USD 90 mn second fund, doubling down on Egypt, I’m confident we have the best team to lead Algebra forward,” Managing Partner Karim Hussein said.

Mansour Group’s Al Mansour Automotive has appointed Ankush Arora (bio) as its new CEO, effective 1 July, the company said in a statement (pdf). Arora was formerly the company’s director of operations, and succeeds Adel Khadr, who stepped down as CEO after 27 years in the position and 46 years at the company. Arora comes with 30 years of experience under his belt in the automotive industry, and had originally joined Al Mansour back in 2014 as COO. The automotive expert previously held leadership roles in General Motors and India’s Tata Motors.

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