New York-based Modus Capital intends to fund 10 ICT startups in the coming year, Modus’ founder and CEO Kareem Elsirafy told Al Mal. Having recently launched in Egypt, the entrepreneurial venture capital firm is planning to expand in the second quarter of 2019 to Dubai. Modus is currently in the process of reaching agreements with three startups working in the fields of social media, health IT and smart software solutions, each of which will receive USD 100-250k in funding in exchange for non-controlling stakes.

Tags: