Flat6Labs, a Cairo, Egypt-based seed and early stage enterprise capital agency working within the MENA area, launched a US$95M fund.
The Africa Seed Fund (ASF) will spend money on greater than 160 early-stage startups over the following 5 years that function within the expertise sector in Africa, with a deal with impactful sectors that speed up digital inclusion by way of the usage of info applied sciences and industries which contribute to addressing social and environmental challenges, comparable to HealthTech, FinTech, EdTech, GreenTech, AgriTech, ClimateTech, and different sectors.
Flat6Labs invests in modern and technology-driven startups. At the moment, the agency is positioned in seven nations – Egypt, Lebanon, Tunisia, Bahrain, Jordan, UAE, and KSA, managing a variety of seed funds with whole belongings beneath administration (AUM) in extra of $85M. The agency will probably be extending its attain into a number of new territories together with Nigeria, Ghana, Kenya, Morocco, and Senegal, amongst others.
The ASF will probably be led by Ramez El-Serafy and Dina el-Shenoufy as Common Companions for the fund.
FinSMEs
14/03/2023
