Acasia Group, a driving force in the startup ecosystem, is pleased to announce its acquisition by Sultan Ventures, a well-known U.S.-based venture firm known for its innovative approach to venture building, innovation, and investment. This move has the potential to drastically alter the entrepreneurial landscape throughout the Middle East and Africa.
Initially established as Cairo Angels in 2011, Acasia has transformed into a prominent angel syndicate, offering a range of startup ecosystem programs, incubators, and startup competitions. It has also partnered with prominent organizations like EG Bank, the World Bank, and DAR. Acasia’s crucial contribution to the development of the startup ecosystem has solidified its standing as a major force behind entrepreneurship and innovation in the Middle East and Africa.
“This acquisition marks an exciting new chapter for Acasia,” said Hossam Allam, Chairman of Acasia Group. “What began fourteen years ago as a grassroots initiative under Cairo Angels has grown into a regional leader, operating across every aspect of the venture continuum in the Middle East and Africa. The acquisition by Sultan Ventures enables Acasia to scale faster and tackle the region’s biggest challenges, amplifying impact and scaling early-stage ventures and deep-tech commercialisation.”
Sultan Ventures, which has over 15 years of experience in venture development, innovation, and startup ecosystem support, is reaffirming its commitment to global expansion with this acquisition. Through their XLR8® programs, which include one of the best accelerators in the world, Sultan Ventures has aided in the acceleration of hundreds of U.S.-based startups, transforming innovative concepts into scalable companies. They will now expand into the Middle East and Africa. Their work has won multiple awards for turning creative concepts into profitable, scalable businesses.
“Sultan Ventures’ proven track record in venture acceleration combined with Acasia’s local experience creates a winning partnership designed to enhance ecosystem development,” said Omar Sultan, Managing Partner of Sultan Ventures. Adding that, “Acasia has built an enviable reputation for empowering startups and cultivating ecosystems in emerging markets. This acquisition creates a new U.S.-MENA bridge and opens a door for thousands of founders seeking to bring ideas to market.”
