Sawari Ventures aims to raise $200 million for its second fund

Sawari Ventures, the Egypt-based venture capital firm, is set to launch its second fund, Sawari Ventures II, in early 2025 with a target of $200 million. The fund will expand its investment focus beyond North Africa to include Kenya and West African markets.

The new fund comprises two components: a local capital-focused Egypt fund and an international fund focusing on foreign investors and development finance institutions. In the next four to five years, about 70% ($140 million) will be invested by Egyptian startups, mainly at Series A or B stage investments.

Sawari Ventures II will target investments in fintech, deep tech, digital education, health tech, climate tech, and agricultural technology sectors. The firm has also partnered strategically with Bpifrance, France's largest venture capital firm, to facilitate collaboration between African and French markets.

The announcement follows another in February 2024, when Sawari Ventures said it would launch a $150 million investment fund for Egyptian startups as part of a broader push to stimulate innovation in the country and across Africa.