Camel Ventures Launches USD 16 M Fintech Fund

Egypt-based Camel Ventures has launched an EGP 500 million (USD 16 M) venture capital investment vehicle, dubbed Camel Ventures for Investment I (CVI), focused on financing Egypt’s growing fintech startup ecosystem. Regulated by the Egyptian Financial Regulatory Authority, CVI provides both equity investments for early-stage startups, and venture debt denominated in local currency for later-stage startups.

CVI is backed by a diverse group of investors, including banks, financial institutions, and family offices based in Egypt and the GCC. The Founding and Managing Team – made up of Shehab Marzban, Mona El Sayed, and Mahmoud El-Zohairy – partnered with Al Ahly Capital Holding and dfin Holding to create CVI as the first fintech-focused investor in Egypt.

The new VC fund will focus on supporting Egypt’s fintech startup ecosystem, by providing them with both equity investments for early-stage startups, as well as venture debt for later-stage startups. CVI has already made ten investments in various sectors across Egypt, including Khazenly, Pharmacy Marts, and klickit.