Egypt-based angel investor network Cairo Angels has announced the first close of its micro-venture syndicate fund.
The Cairo Angels Syndicate fund will invest ticket sizes of $100,000 to $250,000 in early-stage startups in the region with a particular focus on Egypt, the UAE, Saudi Arabia, Nigeria, Kenya and South Africa.
According to CEO Aly El Shalakany, the fund is looking to deploy capital and is currently in talks with several startups that fit with its investment thesis and a number of institutional investors.
“This fund is a natural step in the evolution of the Cairo Angels,” said El Shalakany.
“It couples our already strong deal sourcing platform with a faster and more rigorous due diligence and capital deployment capability further down the value chain.”
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