Egypt Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Share
Read Full Issue 
Cashcows welcomes new Saudi shareholders: Saudi venture studio Value Makers Studio (VMS) has acquired a minority stake in local accelerator Cashcows in a move that will help the Egyptian platform expand its footprint past the local market, Cashcows said in a statement(pdf) yesterday.
Two-way expansion: The two firms will launch a joint platform to support startups, investors, and entrepreneurs across the Egyptian and Saudi markets.“The partnership creates a bridge between Saudi and Egypt, helping Saudi startups deploy their teams and assets in Egypt and vice versa,” Cashcows Managing Partner and CEO Ahmed Reda told Enterprise. “There are so many Saudi companies interested in Egypt, from the F&B sector to the fintech sector,” Reda said. The platform will also help local companies partner with Saudi firms to expand into the KSA, he added.
About Cashcows: “We prepare Egyptian startups for seed rounds,” Reda told us. “We work with them on their business models, their product, and their teams, and act like an advisor to prepare them for investments.” The platform has already graduated two rounds of startups since its inception in 2019, and has worked with firms including medical analysis platform CheckMe, fuel supplier GoFuel, fintech ElGameya, and discounter CowPay.
Cashcows’ five partners are Reda (LinkedIn), who is chairman of clothing brand NAS Trends; serial founder Mohamed ‘Nagaty’ Aboulnaga (LinkedIn), co-founder and CEO of regional fintech investment platform Exits; Osman Badran (LinkedIn), marketing consultant at Marakez and Madrasetna; Tarek Fahim (LinkedIn), managing partner at Endure Capital; and Mohamed Okasha (LinkedIn), managing partner at DisrupTech Ventures and former Fawry MD.
The buyer: VMS brands itself as a venture studio that offers guidance, financing, networking, and investment to help MENA startups break into the Saudi market. .
USD 10 mn fund in the pipeline: Cashcows wants to launch its own fund early next year, dubbed Soonicorns. “The fund will be a spinoff from Cashcows which will invest in the most qualified companies from Cashcows and VMS’ cycles,” Reda said, adding that it will be a “small boutique fund of USD 10 mn.”
