The first close of Glint’s second venture fund was announced today by the well-known boutique consulting and investment firm in Egypt. Anchored by Wadi Degla Group, Glint’s new fund has an initial close of $3 million.
Its proprietary venture studio model will be used to support startups. With tickets ranging from $250K to $500K, Glint Fund II aims to invest between the Seed and Series A stages in order to support creative entrepreneurs building disruptive, tech-based Egyptian companies with the ability—and mandate—to penetrate the regional and international markets. Since its founding six years ago, Glint has contributed to the development of numerous innovative companies, including Filkhedma, Darwinz.ai, Iqraaly, Wasla, and Kashier.
“Glint’s second fund represents an important step to further develop our ecosystem designed to support Egyptian tech-based startups looking to penetrate the regional and international markets,” said Tarek Aboualam, managing partner at Glint, adding: “Glint’s Venture Studio model is designed to provide much more than just capital; it provides an integrated platform offering business, operational and technical support as well as access to the regional market. We are thrilled to start working with our new LPs as well as continue working with our returning investors.
“Investing in startups that redefine and disrupt markets is more than just financial input; it’s about building a foundation for continuous innovation and significant regional growth,” added Youssef Helmy, General Partner at Glint. “The fund focuses on digital and disruptive industries, planning to make significant inroads into AI, fintech, and other cutting-edge technologies.”
