Egypt: Algebra Ventures achieves a first closing of its second fund at 100 million dollars
Egyptian venture capital firm, Algebra Ventures, has completed an initial closing of $100 million for its second fund, surpassing its initial target of $90 million. Focused on the MENA region, Algebra expects to reach final closing by the end of the first quarter of 2023, according to a press release published on Tuesday, October 4. This fund follows an initial $54 million invested in 21 startups across Egypt and the Middle East. He will explore investment opportunities in East and West Africa, and his main focus remains Egypt. The company plans to invest