• The Egypt-based venture capital firm Sawari Ventures will launch its second fund in early 2025 with a target of $200 million. 
• Sawari Ventures II will expand its investment focus beyond North Africa to include Kenya and West African markets.
• About 70% ($140 million) of the fund will be invested by Egyptian startups, mainly at Series A or B stage investments, and the rest will be directed to foreign investments.
• Founded in 2010 by Ahmed Alfi, Hany Al Sonbaty, and Wael Amin, Sawari Ventures is a Mena-focused VC firm, backing over 30 companies, including Swvl, MoneyFellows, Instabug, Si-Ware, and Elves.
• Earlier this year, Sawari Ventures announced it would launch its first fund at $150 million.

Press release:

Sawari Ventures, the Egypt-based venture capital firm, is set to launch its second fund, Sawari Ventures II, in early 2025 with a target of $200 million. The fund will expand its investment focus beyond North Africa to include Kenya and West African markets.

The new fund comprises two components: a local capital-focused Egypt fund and an international fund focusing on foreign investors and development finance institutions. In the next four to five years, about 70% ($140 million) will be invested by Egyptian startups, mainly at Series A or B stage investments.

Sawari Ventures II will target investments in fintech, deep tech, digital education, health tech, climate tech, and agricultural technology sectors. The firm has also partnered strategically with Bpifrance, France's largest venture capital firm, to facilitate collaboration between African and French markets.

The announcement follows another in February 2024, when Sawari Ventures said it would launch a $150 million investment fund for Egyptian startups as part of a broader push to stimulate innovation in the country and across Africa.