The CEO and co-founder of Sawari Ventures, an investment firm, revealed plans to open a new fund with a target investment amount of roughly $150 million in Egyptian startups.
In a formal statement, Al Sanbati stressed that Sawari Ventures is focusing on projects in a number of industries, such as deep tech, fintech, green technology, healthcare, and education, because it expects these industries to continue growing in Egypt.
He emphasized that the current period offers the best conditions for investing in technology companies and that the state of the economy will not prevent stakeholders from making additional investments in these businesses. Furthermore, Al Sanbati said that startups’ early difficulties won’t materially impede their growth.
According to projections, over the next five years, startups backed by Sawari Ventures are expected to draw investments in the $350 million to $500 million range.
Al Sanbati emphasized that Sawari has invested in about 500 startups since its founding in the Arab world, underscoring the company’s goal for Egypt to become a major hub for investment in Africa and the wider region.
He clarified that Sawari Ventures functions within a structure designed to stimulate investments and position businesses for further funding.
Al Sanbati said, “Exiting forms an integral part of our company’s strategy to inject investments into other ventures.” He also mentioned that talks are currently taking place about his possible departure from some companies in the next 18 months, given that these businesses continue to grow and attract new investors.
With a focus on digitizing the Egyptian economy and reshaping financial inclusivity trends, Sawari Ventures dedicates about 35% of its portfolio to the fintech industry.
With the support of more than 30 companies, including Swvl, MoneyFellows, Instabug, Si-Ware, and Elves, Sawari Ventures, which was founded in Egypt in 2010, has become one of the nation’s top venture capital firms.
