Cairo Angels Syndicate Fund announces the first close, Fund will be used to make African investments

Egypt-focused angel investor network Cairo Angels announced the opening of the Cairo Angels Syndicate Fund, a Delaware-based fund that will invest between US$100,000.00 and US$250,000 to startups based in the Middle East and Africa.

Cairo Angels I

Cairo Angels, Egypt’s first formal network for angel investors, was launched in Egypt in April 2005. Since then, it has been active in investing in high-growth startups and businesses in the Middle East, Africa and the Middle East. It currently has 31 investee companies in 18 sectors.

Its syndicate funds are micro venture capital funds that invest in pre-Series A and post-seed startups. They have a special focus on Egypt (UAE), Saudi Arabia (UAE), Nigeria, Kenya, South Africa, and Nigeria.

CASF negotiates additional co-investment rights on a deal-by-deal basis for its LPs in addition to the investment made by it. This allows the fund’s investors the opportunity to double their chances of success.

The fund has closed its first close and is now ready to deploy capital. It is also in negotiations with several startups that fall within its investment thesis. This target is sector-agnostic, early-stage scalable platforms, which have strong technical teams and sector experience.

CASF deliberately focused its fundraising efforts on family offices and individual investors in order to make it more accessible to this attractive asset class. One institutional investor was the exception, who has made a soft commitment and will continue to support the fund. It will officially join in Q1 next year.

CASF will now be focusing on closing the deal and reaching its US$5 Million funding goal. This is something that it is currently in advanced discussions.

Aly El Shalakany (CEO), CASF, stated that “this fund is a natural part of the evolution of Cairo Angels.”

It combines our existing strong deal sourcing platform, with a faster and better due diligence process and capital deployment capability further down in the value chain. This is the missing middle.

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