The Egypt-based VC firm Camel Ventures has launched an EGP500 million (US$16 million) fund that is focused on the country’s fintech startup ecosystem. Camel Ventures is backed by institutions in the fintech space and the financial services arena in Egypt – dfin Holding and Al Ahly Capital Holding. Its first investment vehicle, Camel Ventures for Investment I (CVI), is focused on financing Egypt’s growing fintech startup ecosystem. It is backed by investors that include banks, financial institutions, and family offices based in Egypt and the GCC. The fund has already made 10 investments in various sectors, including in Khazenly, Pharmacy Marts, and klickit.

Source: The North Africa Journal April 05, 2023 04:05 UTC