GIZ Launches USD 120 Mn Funding Program For New Fund Managers

GIZ Egypt, in collaboration with the Egyptian Micro Small and Medium Enterprises Development Agency (MSMEDA), Endure Finance, and Changelabs, has launched a USD 120 Mn funding initiative called ‘VC University’ aimed at first-time venture capital (VC) funds.

The year-long program will provide mentorship to aspiring fund managers and access to various LPs from around the world and educate early-stage fund managers on how to raise capital and navigate challenges.

The VC University program is open to funds based in Egypt and those based elsewhere in MENA who have a strong mandate to invest in Egyptian startups. It looks to onboard three to four fund managers, who will receive USD 30-36 Mn each.