{"id":543955,"date":"2022-02-27T04:10:57","date_gmt":"2022-02-27T04:10:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/27\/egypt-launches-new-world-bank-backed-usd-50-mn-vc-fund\/"},"modified":"2022-02-27T04:10:57","modified_gmt":"2022-02-27T04:10:57","slug":"egypt-launches-new-world-bank-backed-usd-50-mn-vc-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/27\/egypt-launches-new-world-bank-backed-usd-50-mn-vc-fund\/","title":{"rendered":"Egypt launches new World Bank-backed USD 50 mn VC fund"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>MSMEDA partners with World Bank to launch USD 50 mn VC fund: <\/strong>The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has launched a venture capital fund with USD 50 mn from the World Bank, according to a <a href=\"https:\/\/magnitt.com\/news\/egypt-launches-50m-vc-53247\">press release<\/a>. Trade Minister and MSMEDA Executive Director Nevine Gamea announced the new fund at a private investment conference co-organized by MSMEDA, the <a href=\"https:\/\/www.avca-africa.org\/\">African Private Equity and Venture Capital Association<\/a>, the World Bank, German development agency GIZ, and Misr Ins. Holding.<\/p>\n<p><strong>How will the fund work?<\/strong> The program will funnel financing into existing investment funds and create new ones, according to the press release, which didn\u2019t specify the targeted sectors or planned ticket sizes. International funds looking to enter African markets are eligible to receive funds through the program, Gamea is quoted as saying, in a move meant to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b85ff92f-1f06-44c0-9ee2-ced557fb28ac\">boost pan-African trade<\/a> and idea-sharing. Some funding will also go towards training financial institutions\u2019 employees on VC funding, according to the statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MSMEDA partners with World Bank to launch USD 50 mn VC fund: The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has launched a venture capital fund with USD 50 mn from the World Bank, according to a press release. Trade Minister and MSMEDA Executive Director Nevine Gamea announced the new fund at a private [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":543956,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[72,125,991,95,123,200,321],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam","tag-investment-watch","tag-sme-development-authority","tag-startup-watch","tag-startups","tag-venture-capital","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"174420fe-2d8a-4476-89aa-624adea5cb7b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/2\/372.jpg","photo_position":"above","related_issue":[543943],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt launches new World Bank-backed USD 50 mn VC fund - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/02\/27\/egypt-launches-new-world-bank-backed-usd-50-mn-vc-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt launches new World Bank-backed USD 50 mn VC fund\" \/>\n<meta property=\"og:description\" content=\"MSMEDA partners with World Bank to launch USD 50 mn VC fund: The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has launched a venture capital fund with USD 50 mn from the World Bank, according to a press release. 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FAC will in turn raise its seed offering for its Cairo Seed Program to up to EGP 1.5 mn,\u2026","rel":"","context":"In &quot;SPEED ROUND: STARTUP WATCH&quot;","block_context":{"text":"SPEED ROUND: STARTUP WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562060,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/giz-egypt-to-set-up-eur-100-mn-funding-program-for-new-vc-outfits\/","url_meta":{"origin":543955,"position":1},"title":"GIZ Egypt to set up EUR 100 mn funding program for new VC outfits","author":"enterpriseam admin","date":"5 May 2021","format":false,"excerpt":"GIZ to invest up to EUR 100 mn in young VCs: GIZ Egypt has partnered with the government\u2019s Micro, Small and Medium Enterprises Development Agency (MSMEDA), Endure Capital, and Changelabs to launch VC University, a EUR 100 mn funding program for first-time venture capital funds, Wamda reports. The program will\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/40.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549911,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/algebra-ventures-nets-usd-100-mn-first-close-on-second-fund\/","url_meta":{"origin":543955,"position":2},"title":"Algebra Ventures nets USD 100 mn first close on second fund","author":"enterpriseam admin","date":"5 October 2022","format":false,"excerpt":"Venture capital firm Algebra Ventures\u2019 second fund has reached a USD 100 mn first close, surpassing the USD 90 mn initially targeted, according to a companystatement(pdf). The VC outfit plans to invest USD 15 mn in startups by the end of this year and to reach final close on the\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/138.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588632,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/eva-pharma-plans-usd-110-mn-saudi-meds-complex\/","url_meta":{"origin":543955,"position":3},"title":"Eva Pharma plans USD 110 mn Saudi meds complex","author":"enterpriseam admin","date":"14 June 2023","format":false,"excerpt":"The company wants to build five factories and a research hub","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/691.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586792,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/17\/eib-could-invest-eur-50-mn-a-year-in-egypt-focused-vc-pe-firms\/","url_meta":{"origin":543955,"position":4},"title":"EIB could invest EUR 50 mn a year in Egypt-focused VC, PE firms","author":"enterpriseam admin","date":"17 May 2023","format":false,"excerpt":"The lender is considering investing in Sawari Ventures\u2019 next fund","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/951.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593625,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/uaes-beco-closes-second-vc-fund\/","url_meta":{"origin":543955,"position":5},"title":"UAE\u2019s Beco closes second VC fund","author":"enterpriseam admin","date":"3 October 2019","format":false,"excerpt":"STARTUP WATCH- UAE\u2019s Beco closes second VC fund: Beco Capital has closed its second startup fund at USD 100 mn, exceeding its initial USD 80 mn target, the Dubai-based venture capital firm said in a press release (pdf). Among those committing capital to the fund were Rimco Investment, the International\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=543955"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543955\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/543943"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/543956"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=543955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=543955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=543955"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=543955"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=543955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}