• Egypt-based VC Sequence Ventures, is planning to invest $8 million (EGP150 million) in 10 tech companies this year via its Egypt Deep-Tech fund.
• The fund is currently in talks with 22 startups with a view to deploying EGP12-17 million in 10 transactions starting as early as May.
• Launched in October 2021, Deep-Tech plans to reach its first close of $8 million by the end of April, with two more closes ahead, ranging from $8-11 million each, with the aim to reach its $27 million final closing target.

Source: Enterprise

Sequence Ventures is looking to invest EGP 150 million in 10 tech companies this year via its Egypt Deep-Tech fund, Managing Partner Mohamed Fahmy told Al Mal. The fund is currently in talks with 22 startups with a view to deploying EGP12-17 million in 10 transactions starting as early as May.

The fund plans to reach its first close of EGP 150 mn after Ramadan, Sequence Ventures Executive Chairman Karim Helal confirmed to Enterprise. The fund has two more closes ahead, ranging between EGP 150-200 mn each to reach its EGP 500 mn final closing target.

About Egypt Deep-Tech: Launched in October, the fund is focused on acquiring companies operating in a range of tech sectors, including healthtech, fintech, edtech, proptech, logistics, and DevOps.

The fund made its first investment last year, committing an undisclosed amount of seed capital to AIM Technologies, an AI-driven customer experience platform.