Previous Story
$90 Million inducted by the Algebra Ventures to enhance Business in Egyptian Tech Startups
Posted On 10 Apr 2021
By Abdul Rahman Bangura–
US Hundred Dollar Bills
Photo Credit: Depositphotos
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- A little over three years into its primary $54 million fund, Algebra Ventures has subsidized in 21 startups, comprising Trella, Elmenus, GoodsMart, and Halan, creating over 20,000 direct and indirect jobs. Its six maximum founded corporations are rated at over $350 million.
The company is presently doubling down on its home market, while yet opportunistically investing in the rest of the MEA region. It will proceed to finance inventors who are remaking industries and expressing long-standing problems and will also maintain coin vestments with some of the strongest local, and continue to fulfill outstanding
entrepreneurs who address these challenges. I am also motivated by the crucial strides taken by the government to promote the development of tech-enabled careers in Egypt,” said Karim Hussein, Managing Partner at Algebra Ventures.
Algebra Ventures works closely with its portfolio companies, providing capital as well as assisting with strategy and operations. It has also supported the hiring of several C-level executives for its portfolio companies and will continue to invest in growing its talent of qualified Algebra’s portfolio.
The new fund will pursue chances in fintech, agri-tech, ed-tech, logistics, and healthcare by partnering with high-potential producers to deal with specific market rifts in these realms.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
Facebook: newafricabusinessnews.com
Email: Info@newafricabusinessnews.com
AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com
Thank you for the report. Startups popping all over Africa. Great credible investment opportunities. Accra Ghana. Coffie
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Thank you for the daily newsletters. William in Bristol, England
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Our Startups are the future big business companies. Hassan in Cairo Egypt
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Journalist Bangura, thank you and your teams for covering the whole Continent. Robert in Nairobi KENYA
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com