Africa: Sawari Ventures to Launch $200m Fund Expanding Focus Across Africa

5 November 2024
Daba Finance (Abidjan)

TLDR

  • Sawari Ventures announced Sawari Ventures II, a $200 million fund targeting Kenya and West Africa, emphasizing high-growth sectors.
  • The fund includes a local Egyptian fund and an international fund for foreign investors, with 70% allocated to Series A or B stage Egyptian startups.
  • Sawari Ventures partners with Bpifrance to enhance collaboration between African and French markets, following the successful launch of a $150 million fund for Egyptian startups in February 2024.

Egypt-based Sawari Ventures announced its second fund, Sawari Ventures II, set for launch in early 2025 with a $200 million target.

Expanding beyond North Africa, the fund will invest in Kenya and West Africa, focusing on high-growth sectors. Sawari's new fund comprises two parts: a local capital-focused Egypt fund and an international fund for foreign investors, with 70% ($140 million) aimed at Egyptian startups in Series A or B stages.

Sawari has partnered with Bpifrance, France's largest VC firm, to foster collaboration between African and French markets. This initiative builds on Sawari's February 2024 launch of a $150 million fund for Egyptian startups, supporting innovation across the continent.

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Key Takeaways

Sawari Ventures II reflects the rising appeal of Africa's startup ecosystem, with Egypt positioned as a regional tech hub. By expanding its geographical focus, Sawari is aligning with the continent's growing tech investment momentum. The collaboration with Bpifrance highlights a trend towards cross-border partnerships, facilitating knowledge sharing and access to larger markets. The fund's sector focus aligns with Africa's needs for fintech, agri-tech, and climate resilience, potentially unlocking solutions for economic and environmental challenges.

Read the original article on Daba Finance.

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