The second iteration of the “VC Grow” program for new VCs has been announced by prominent development partners GIZ Egypt, FMO, and AfricaGrow.
The program aims to invest equity or venture debt between the seed and series A stages and targets new and emerging fund managers operating in Africa or the Middle East, with a minimum allocation of 25% going to Egypt.
The platform for new VCs began in 2022 with a first edition, trained 20 funds, accelerated four emerging funds, and concluded with the 2022 Egypt VC Summit, which attracted investors from around the world to Cairo in June.
This year, the program will invite 20 funds to a two-day bootcamp in Cairo, Egypt, led by industry leaders, and will ultimately choose five to join the acceleration programme, which offers six months of specialized fundraising support, regular opportunities to pitch to LPs, market-based industry workshops led by global leaders, and direct introductions to investors.
“The VC Grow programme develops a new generation of fund managers that will build the ecosystem in the region and beyond. As AfricaGrow, we continue to be part of this initiative supporting first-time VC managers with innovative approaches to address today’s social and environmental challenges,” said Anna Niedergesaess, E&S manager at DEG Impact.
Before May 1, fund managers can submit an application here for the program.
