COREangels launches $10 million fund to support MEA startups

COREangels Launches $10 Million Fund to Propel MEA Startups

COREangels MEA recently held its 5th Investment Committee, a three-day forum that brought together global angel investors, regional partners, and pioneering founders from across the Middle East and Africa, spanning from the Gulf to South Africa. This event signifies a pivotal moment in the region's innovation landscape, demonstrating a growing commitment to aligning smart capital with purpose-driven innovation.

Maha Mandour, Chairperson of PTS Holdings and Co-Founder of COREangels MEA, announced that the fund will deploy $10 million in venture capital into startups. She highlighted that the fund specifically targets tech startups aligned with the Sustainable Development Goals (SDGs). Their unique hybrid model combines a global network of investors, local expertise, and an innovation studio providing operational development services to support these companies' growth and expansion.

COREangels MEA offers investment support of up to $150,000, along with a comprehensive suite of advisory and technical services designed to help startups scale into new markets. The fund operates under the umbrella of PTS Investments Holdings, an investment group focused on building sustainable ecosystems for startups by aligning investment and venture services with the SDGs. Through Kemtix Ventures, the Group's innovation and venture studio arm, the fund provides founders with not only capital but also tools, strategic guidance, and a powerful investor network.

"We don’t just inject funds—we believe in building comprehensive ecosystems. COREangels MEA brings capital, capability, and community support to the region’s most promising founders," stated Mandour.

Fintech: A Foundation for Inclusive Growth
This year's Committee theme was "Fintech as the foundation for inclusive growth," a timely focus given that fintech in MEA is projected to surpass $100 billion by 2028. COREangels MEA is channeling impact-driven capital into startups developing solutions in embedded finance, digital payments, inclusive lending, and financial access infrastructure across various application fields.

Out of over 1,000 applications, five standout fintech startups were selected for the committee:

eMaisha Pay (Uganda): Empowers farmers with savings tools, crop insurance, and microloans.
RentBeta (East Africa): Facilitates flexible rent payments and automates landlord collection.
Aqua Offers (Egypt): Provides an intelligent, performance-based solution for loyalty programs and instant savings.
Monak (MENA): Offers bundled financial, health, and insurance services for migrant communities on a single platform.
Reeple (Nigeria): Simplifies international payments for African freelancers and remote workers.
These companies underwent rigorous operational and investment evaluation through Kemtix Ventures to ensure their readiness for growth and alignment with the fund's objectives.

Partnerships and Global Connections
The event was hosted by the Arab Academy for Science, Technology and Maritime Transport (AAST) Entrepreneurship Center, led by Dr. Ismail Abdel Ghafar, providing an ideal platform for collaboration. A strategic partnership with PTS Holdings was strengthened during the event to empower institutional innovation, spearheaded by Kemtix Ventures. An MOU was also signed between AAST and PTS Holdings to support young innovators, particularly in the early stages of their entrepreneurial journey.

The Committee welcomed a distinguished delegation of visionary leaders, fund managers, and change-makers from across the region, including Nigeria, Saudi Arabia, South Africa, Jordan, and the United Arab Emirates. This reflects a shared regional commitment to building a cross-border, impact-focused investment ecosystem. Rui Falcão, President of COREangels International, also attended, underscoring the global importance of connecting frontier innovation in MEA with smart capital.

Falcão emphasized, "COREangels MEA is more than a fund—It is a trusted and secure bridge connecting regional innovation with smart, sustainable global investment opportunities." The committee concluded with interactive panel discussions, hands-on training workshops, personalized founder meetings, and cultural experiences, fostering deeper connections and anchoring investment within the local identity. COREangels MEA believes that "true investment transcends capital—it's about forging partnerships that generate meaningful value and enduring impact."