Cairo Angels publicizes the primary shut of its syndicated fund
The Cairo Angels Community publicizes the primary shut of its micro-venture syndicated fund. The Cairo Angel Syndicate Fund (CASF) will spend money on early-stage startups whose ticket sizes vary from $100,000 – $250,000 throughout the Center East and North Africa area.
As Egypt’s first formal community of angel buyers, the Cairo Angels syndicated fund additionally backs pre-Collection A startups. Other than the common direct fund investments, the fund additional negotiates further co-investment rights for its LP on a deal-by-deal foundation whereas permitting the fund buyers to double down on alternatives.
The CEO of CASF Aly El Shalakany mentioned that the fund is able to deploy capital and negotiations with a number of start-ups with sturdy sectoral expertise and technical groups are ongoing. CASF Board Member Minoush Abdelmeguid commented that “the tempo and high quality of alternatives coming by way of the pipeline, has far exceeded our expectations.” He attributed this to a robust deal sourcing platform. CASF focussed its fundraising for the primary shut on particular person buyers and household workplaces however has additionally obtained a dedication from an institutional investor who will formally take part Q1 of subsequent 12 months.
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