Endeavor Catalyst plans to invest between US$15 million and US$20 million in Egyptian startups over the next four years. The venture capital arm of Endeavor shared the target after closing its fifth fund at US$320 million. The fund will support fast-growing technology companies across emerging markets.
Fund details
The new fund is open to fast-growing tech startups across different sectors. It aims to invest in 8 to 10 Egyptian companies over four years. Individual investments typically range from US$1 million to US$3 million.
Egypt's position
Egypt is the third-largest market in Endeavor Catalyst's global portfolio. Endeavor Catalyst's Egypt portfolio includes MNT-Halan, Paymob, and Vezeeta. The new allocation will connect local founders to a network spanning 50 countries.
Fund track record
Endeavor Catalyst has invested in 437 companies across 44 markets since 2012. Its portfolio has recorded 39 exits and 11 initial public offerings. The firm's total assets under management now exceed US$850 million.
The fifth fund attracted about 400 investors. Backers include Reid Hoffman, Bill Ackman, and Dutch investment group Prosus. Founders of Nubank, Revolut, and Checkout.com also joined the fund.