[CAVIE-ACCI] Cairo Angels, Egypt’s first formal network of angel investors, has launched a syndicate investment fund to back pre-Series A startups in Africa and the Middle East.

Cairo Angels, which invests in and supports startups and early-stage, high-growth businesses, said it has already started fundraising and aims to close during the first quarter of next year.

The syndicate fund will target startups that are pre-Series A and looking to fuel growth and expand regionally, and Cairo Angels believes its executive team, investment committee and board will provide a unique value proposition, leveraging its expertise and relationship capital in order to maximise impact on portfolio startups.

“We are always looking at ways to bring new ideas and innovation to our region and launching the fund is the next step in our evolution. We have enjoyed great success investing in this space and we now want to  democratise access to this exciting asset class to active and passive investors alike. Our new model will bring something different to the market and provide much needed capital to a clear gap in the funding life cycle of startups in our region,” Aly El Shalakany, a member of the fund’s investment committee, said.

Investors who are interested in this asset class are invited to apply to join as a limited partner in the fund, and Cairo Angels will be hosting an information session in this regard on November 16.

Thomas Jackson