Algebra Ventures, an Egyptian venture capital firm with a MENA emphasis, announced the opening of its $90 million second fund in April of last year. A $54 million fund was invested in 21 firms around Egypt and the Middle East as a follow-up to its first round. Algebra Ventures anticipated reaching its first close in…
IFC, a World Bank Group member, will invest $15 million in Algebra Ventures’ second fund, which will support the growth of approximately 20 technology startups in Egypt and across Africa. Algebra Ventures II, with a target size of $90 million, will focus on women-led businesses and those serving rural communities, and will provide access to…
Algebra Ventures, an Egyptian venture capital firm, has received a US$15 million commitment from the International Finance Cooperation (IFC), a member of the World Bank Group, for its US$90 million second fund. Algebra Ventures invested in startups such as Trella, elmenus, GoodsMart, and Halan with its first US$54 million fund, and Disrupt Africa reported last…