Egyptian-American Enterprise Fund’s annual letter is out: 2017 proved to be an important year for the Egyptian-American Enterprise Fund (EAEF): The two first-time funds it seeded — midmarket player TCV and Algebra Ventures — invested in six companies in fintech, agribusiness, and food industries, EAEF said in its annual shareholders letter (pdf). The fund also partnered with the International Finance Corporation and Egypt Ventures to provide incubator Flat6Labs with USD 500k in funding, helping graduate eight startups from its latest cycle. It’s consumer finance company, Sarwa Capital, completed its USD 68 mn securitization and launched a mortgage finance business last year.

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