Egypt’s Acasia Group Is Acquired by Sultan Ventures

US-based venture capital firm Sultan Ventures has acquired the Egyptian angel investment syndicate and incubator Acasia Group for an undisclosed amount.

Acasia Group, originally established in 2011 as Cairo Angels, operates multiple incubators and functions as a regional angel investment syndicate, supporting entrepreneurs in Egypt and the surrounding region. Sultan Ventures, founded in 2009, is a venture capital firm that focuses on early-stage investments, innovation programs, and the development of startup ecosystems.

This acquisition will expand Sultan Ventures’ presence in the Middle East and Africa (MEA) region. However, Acasia Ventures, a separate entity, is not part of the deal. Earlier this year, Acasia Ventures and Acasia Group underwent a separation, with Acasia Ventures remaining fully owned by Aly El Shalakany and managed by general partners Biola Alabi and Aly El Shalakany.

Sultan Ventures has supported numerous U.S.-based startups through its XLR8® initiatives, which include a prominent accelerator program. Acasia Group operates a 6-month incubation program at DarE Incubator, which was launched last year by Dar Ventures to enhance the architecture, engineering, and construction (AEC) sector in Egypt.