Sawari Ventures, a prominent investment company, has recently unveiled ambitious plans to launch a new fund aimed at fostering the growth of Egyptian startups. With a targeted investment of approximately $150 million, Sawari Ventures, under the leadership of CEO and co-founder Hani Al Sanbati, is poised to significantly impact Egypt’s entrepreneurial landscape across various sectors.
Al Sanbati underscored Sawari Ventures’ strategic focus on key sectors including fintech, education, healthcare, green technology, and deep tech projects. Anticipating substantial growth within these domains, the company is strategically positioning itself to support innovation and drive economic development in Egypt.
Despite prevailing economic challenges, Al Sanbati remains optimistic about the conducive conditions for investing in technology companies. He emphasized that while startups may encounter initial hurdles, these challenges are not insurmountable obstacles to their long-term success.
Projections suggest that startups backed by Sawari Ventures could attract investments ranging from $350 million to $500 million over the next five years, underscoring the company’s commitment to fueling innovation in Egypt. Al Sanbati outlined Sawari Ventures’ broader ambition for Egypt to emerge as a pivotal investment hub in Africa and the wider region.
With a track record of investing in approximately 500 startups since its inception, Sawari Ventures operates within a framework aimed at catalyzing investments and preparing companies to attract new funding. Al Sanbati highlighted the integral role of exit strategies in the company’s overall approach, with discussions underway regarding potential exits from certain companies within a year and a half, contingent upon sustained growth and new investor partnerships.
Approximately 35 percent of Sawari Ventures’ portfolio is dedicated to the fintech sector, reflecting its commitment to digitizing the Egyptian economy and promoting financial inclusivity. Since its establishment in 2010, Sawari Ventures has emerged as a leading venture capital firm in Egypt, backing over 30 companies including Swvl, MoneyFellows, Instabug, Si-Ware, and Elves.
The company’s commitment to nurturing innovation and driving economic growth aligns with the broader vision of transforming Egypt into a thriving hub for startups and technological advancements. Sawari Ventures’ dedication marks a significant milestone in the evolution of Egypt’s entrepreneurial ecosystem, heralding a new era of opportunity and growth for the country’s startup community.
Source: Innovation Village