At the Business Forum 2018, which took place from 8 to 9 December 2018 in Sharm El Sheikh, Egypt, Sawari Ventures announced the launch of its investment fund Sawari Ventures North Africa Fund I (SVNFI) worth $ 70 Million, of which $ 35 Million has already been mobilized. The financing facility will invest in technology and knowledge-oriented companies in Egypt, Morocco and Tunisia.
Among the investors of the fund are global financial institutions such as the European Investment Bank (EIB), CDC UK, Proparco, the French development agency (AFD) branch that deals with the financing of the private sector, and the Dutch Good Growth Fund (DGGF) managed by Triple Jump.
According to Sawari Ventures, the fund will invest an average of $ 1.5 Million in 25 growth companies in various sectors, including information technology, advanced technologies, financial technologies, educational technologies, health technologies, renewable energies and green energies.
Wael Amin, partner at Sawari Ventures, explained that the company’s investment is justified by the increase “aggressive” of the urge for investments in Africa, rich in many opportunities for high growth pending sufficient financing. “At Sawari Ventures we have been building knowledge economy companies in this part of the world for years and it is our role today to channel available capital to the right entrepreneurs“, he said.