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    BREAKING NEWS
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    $90 Million inducted by the Algebra Ventures to enhance Business in Egyptian Tech Startups

    Posted On 10 Apr 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 8

    By Abdul Rahman Bangura–

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    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

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    8 Comments

    1. Coffie April 10, 2021 at 2:19 am Reply

      Thank you for the report. Startups popping all over Africa. Great credible investment opportunities. Accra Ghana. Coffie

      • New Africa Business News, Staff Correspondent April 10, 2021 at 2:30 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. William April 10, 2021 at 2:22 am Reply

      Thank you for the daily newsletters. William in Bristol, England

      • New Africa Business News, Staff Correspondent April 10, 2021 at 2:30 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Hassan April 10, 2021 at 2:26 am Reply

      Our Startups are the future big business companies. Hassan in Cairo Egypt

      • New Africa Business News, Staff Correspondent April 10, 2021 at 2:30 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Robert April 10, 2021 at 2:29 am Reply

      Journalist Bangura, thank you and your teams for covering the whole Continent. Robert in Nairobi KENYA

      • New Africa Business News, Staff Correspondent April 10, 2021 at 2:30 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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