Cairo Angels Syndicate Fund proclaims first shut; fund will make African investments

Egypt-focused angel investor community Cairo Angels has introduced the primary shut of the Cairo Angels Syndicate Fund (CASF), a Delaware-based angel fund that can make investments between US$100,000 and US$250,000 in startups based mostly throughout the Center East and Africa.

At launch, Cairo Angels was Egypt’s first formal community of angel traders, and since its formation it has been one of the vital lively early-stage traders in startups and excessive progress companies within the Center East and Africa, with 31 investee corporations throughout 18 completely different sectors. 

Its syndicate fund is a micro enterprise capital fund that invests in post-seed and pre-Collection A startups, with a specific concentrate on Egypt, the United Arab Emirates (UAE), Saudi Arabia, Nigeria, Kenya, and South Africa.

Aside from the funding made by the fund, CASF additionally negotiates extra co-investment rights for its LPs on a deal by deal foundation, permitting the fund’s traders to double down on alternatives. 

With its first shut, the fund is able to deploy capital, and it’s already in negotiations with a number of startups that match inside its funding thesis, which targets sector-agnostic and early-stage scalable platforms which have sturdy sector expertise and technical groups.

With a view to democratise entry to this thrilling asset class, CASF deliberately targeted fundraising for first shut on particular person traders and household workplaces. The one exception was one institutional investor, which has offered a comfortable dedication to speculate and help the fund, and might be formally becoming a member of in Q1 of subsequent 12 months. 

CASF will now concentrate on reaching the ultimate shut and reaching its funding goal of US$5 million, for which it’s in superior discussions.

“This fund is a pure step within the evolution of the Cairo Angels,” stated Aly El Shalakany, chief govt officer (CEO) of CASF. 

“It {couples} our already sturdy deal sourcing platform with a sooner and extra rigorous due diligence and capital deployment functionality additional down the worth chain. That is the brand new lacking center.”

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