Endeavor Catalyst plans to invest $15 million to $20 million in Egyptian technology startups through its fifth fund, according to Amr El Abd, CEO of Endeavor Egypt.
The investment arm of global entrepreneurship organisation Endeavor recently closed the fund at $320 million. It plans to back eight to 10 fast-growing Egyptian companies over the next four years, across different sectors, provided they are technology-driven and have strong growth potential.
Egypt ranks third by portfolio weight globally for Endeavor Catalyst, highlighting its importance within the firm’s investment strategy. The fifth fund aims to invest in 150 companies across 50 countries, typically committing between $1 million and $3 million per company in funding rounds led by institutional investors.
Endeavor Catalyst said its total assets under management have risen to more than $850 million. Since launching in 2012, it has invested in 437 companies across 44 markets, including 83 companies valued at more than $1 billion. Its portfolio has also recorded 39 exits and 11 initial public offerings.
The firm’s Egyptian portfolio includes MNT-Halan, Paymob, Breadfast, Nawy, Money Fellows, Vezeeta and Sylndr. The new fund has around 400 investors, including Reid Hoffman, Bill Ackman, Prosus, and founders of Nubank, Revolut and Checkout.com.
Source: Waya
