Industry Newsroom

Sawari Ventures Reaches US$35 Million First Close for Maiden Fund (Africa)

North Africa-focused venture capital firm Sawari Ventures has reached a first close for Sawari Ventures North Africa Fund I with US$35 million in capital commitments. Investors in the fund include development finance institutions CDC, Proparco, the Dutch Good Growth Fund and the European Investment Bank, which committed US$11 million. The fund will invest in technology startups based in Egypt, Tunisia and Morocco.