Cairo Angels Announces First Close of Cairo Angels Syndicate Fund

Cairo Angels, Africa’s largest network of business angels in the Middle East and Africa, announced the opening of the Cairo Angels Syndicate Fund (CASF), a Delaware-based angel fund.

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CASF will invest ticket sizes between $100,000 and $250,000 in the Middle East and Africa, with a special focus on Egypt, Saudi Arabia and Nigeria.

The fund invests in the fund. However, it also negotiates additional co-investment rights with its LPs. This allows the fund’s investors to double their chances of success.

The fund is ready and available to deploy capital. It is currently in negotiations with several start-ups that fit within its investment thesis. This fund targets early-stage, scalable start-ups that are sector-agnostic as well as those that have strong technical teams and sector experience.

Aly El Shalakany CEO of CASF said, “This fund represents a natural step in the evolution of the Cairo Angels.” It combines our existing strong deal sourcing platform, with a more thorough due diligence process and capital deployment capability further down in the value chain. This is the missing middle.

CASF deliberately focused its fundraising efforts on family offices and individual investors in order to make this an accessible asset class. Only one exception was an institutional investor who made a soft commitment to support and invest in the fund. They will officially be joining the fund in Q1 next year.

CASF will now be focusing on closing the deal and reaching its $5 million funding goal. The fund is currently in advanced discussions
With institutional investors who can add value to regional ecosystems and support the fund’s mission.

“The quality and speed of the opportunities that are coming through our pipeline has exceeded our expectations. Combine that with the high level of M&A activity in the market and you have great reason to be optimistic.” Minoush Abdelmeguid (Board Member of CASF)

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