In a significant move for the region’s venture landscape, Intercap Capital Egypt is considering the launch of a new $50 million investment fund dedicated to technology companies across the Middle East. Rafik Dalala, a board member at the firm, revealed that the initial fund size could increase based on investor appetite, with plans to finalize technical studies and regulatory procedures for a potential launch by the end of 2026.
A Dual-Pronged Strategy
Intercap Capital Egypt, the local arm of the global firm Intercap Capital, began its operations in the country in 2021 after receiving its license from the Financial Regulatory Authority. The company’s business is divided into two primary activities. The first is a financial advisory arm focused on mergers and acquisitions, restructuring, and capital increases. The second operates through T6 Ventures, an entity specializing in providing strategic support to early-stage technology startups.
EGP 3 Billion Deal Pipeline
Despite navigating challenging economic conditions in recent years, including currency fluctuations and reduced investor appetite, the firm has successfully executed several transactions. Dalala noted that the company has M&A deals currently in the pipeline valued at approximately EGP 3 billion, with one transaction worth EGP 550 million expected to close in the coming months. In 2025, the firm completed two major deals in the technology and food and beverage sectors, with valuations ranging between EGP 400 million and EGP 700 million.
Fostering Startups Through Strategic Support
Through its T6 Ventures arm, Intercap provides a unique support model for startups. Instead of direct cash injections, T6 Ventures offers strategic and financial services—including valuation studies and investor negotiation support—in exchange for small equity stakes, typically ranging from 3% to 5%. Over the past year and a half, T6 has partnered with 12 startups, three of which have recently closed their initial funding rounds. The venture focuses on six key sectors: FinTech, HealthTech, E-commerce, Artificial Intelligence, AgriTech, and Digital Gaming & Entertainment.
Navigating Egypt’s Ecosystem Challenges
Dalala highlighted that Egypt possesses a large domestic market and a skilled talent pool, positioning it to become a regional hub for technology and AI. However, he emphasized that the ecosystem faces significant legislative and funding hurdles. He called for a more flexible legal framework, similar to free zones for startups, and tax incentives to encourage both local and international investment, which could help curb the trend of Egyptian companies establishing themselves abroad.
About Intercap Capital Egypt
Intercap Capital Egypt is the Egyptian division of the global financial advisory firm Intercap Capital, which has been active in Canada and the United States since 2001. Licensed by the Egyptian Financial Regulatory Authority in 2020, the firm commenced its local market operations in 2021. It offers financial advisory services for M&A and restructuring while also supporting the startup ecosystem through its specialized entity, T6 Ventures.
Source: Mubasher
