{"id":553909,"date":"2021-12-13T03:50:47","date_gmt":"2021-12-13T03:50:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/algebra-ventures-fund-ii-locks-usd-15-mn-from-ebrd\/"},"modified":"2021-12-13T03:50:47","modified_gmt":"2021-12-13T03:50:47","slug":"algebra-ventures-fund-ii-locks-usd-15-mn-from-ebrd","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/algebra-ventures-fund-ii-locks-usd-15-mn-from-ebrd\/","title":{"rendered":"Algebra Ventures Fund II locks USD 15 mn from EBRD"},"content":{"rendered":"

<\/a> The European Bank for Reconstruction and Development (EBRD) has <\/strong>approved a <\/strong>USD 15 mn equity commitment to Algebra Ventures\u2019 second tech fund<\/strong>, according to the bank\u2019s website<\/a>. The respected Egyptian venture capital firm is targeting a USD 60 mn first close for its latest fund, which was initially targeted for 3Q2021.<\/p>\n

Who else is on board?<\/strong> The International Finance Corporation could contribute up to USD 15 mn to the fund, which according to its website<\/a> is awaiting board approval. Algebra is raising funds from a who\u2019s who of limited partners thanks to the success of its first fund.<\/p>\n

Ventures II:<\/strong> Announced<\/a> in April, Algebra Ventures said the new fund would eventually be worth USD 90 mn and make equity venture capital investments in early-stage tech companies. Earlier this year, Algebra partner Omar Khashaba told us<\/a> that the VC\u2019s second fund will focus on Egypt with some allocations for sub-Saharan Africa.<\/p>\n","protected":false},"excerpt":{"rendered":"

The European Bank for Reconstruction and Development (EBRD) has approved a USD 15 mn equity commitment to Algebra Ventures\u2019 second tech fund, according to the bank\u2019s website. The respected Egyptian venture capital firm is targeting a USD 60 mn first close for its latest fund, which was initially targeted for 3Q2021. Who else is on […]<\/p>\n","protected":false},"author":1,"featured_media":553910,"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":[7272],"tags":[398,571,72,759,125,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-553909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-algebra-ventures","tag-ebrd","tag-enterpriseam","tag-international-finance-corporation","tag-investment-watch","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"a399cd5e-9462-4273-b3c2-f8bec5c73af3","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/318.jpg","photo_position":"above","related_issue":[553897],"teaser":"","voice_url":""},"yoast_head":"\nAlgebra Ventures Fund II locks USD 15 mn from EBRD - 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\/2021\/12\/13\/algebra-ventures-fund-ii-locks-usd-15-mn-from-ebrd\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Algebra Ventures Fund II locks USD 15 mn from EBRD\" \/>\n<meta property=\"og:description\" content=\"The European Bank for Reconstruction and Development (EBRD) has approved a USD 15 mn equity commitment to Algebra Ventures\u2019 second tech fund, according to the bank\u2019s website. 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The investment was approved by the international lender\u2019s board in\u2026","rel":"","context":"In "Startup watch"","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\/4\/198.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547992,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/fmo-commits-usd-10-mln-to-algebras-second-tech-fund\/","url_meta":{"origin":553909,"position":1},"title":"FMO commits USD 10 mln to Algebra\u2019s second tech fund","author":"enterpriseam admin","date":"21 July 2022","format":false,"excerpt":"Dutch development bank FMO has pledged USD 10 mn to Algebra Ventures\u2019 second tech fund, the bank and our friends at Algebra said in separate statements (here and here, pdf). The money is coming from FMO\u2019s EUR 200 mn investment program, which is co-financed by the Dutch foreign ministry and\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/222.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565825,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/06\/algebra-to-raise-usd-50-mn-in-first-close-of-second-fund\/","url_meta":{"origin":553909,"position":2},"title":"Algebra to raise USD 50 mn in first close of second fund","author":"enterpriseam admin","date":"6 May 2021","format":false,"excerpt":"Algebra Ventures is looking to raise USD 50 mn in 3Q2021 for the first close of its recently announced USD 90 mn tech fund, managing partner Tarek Assaad told Al Mal. 80% of it will be invested in Egypt, with a focus on fintech, agritech, logistics and healthcare. The remaining\u2026","rel":"","context":"In "SPEED ROUND: INVESTMENT WATCH"","block_context":{"text":"SPEED ROUND: INVESTMENT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-investment-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":549911,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/05\/algebra-ventures-nets-usd-100-mn-first-close-on-second-fund\/","url_meta":{"origin":553909,"position":3},"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 "Startup watch"","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":556148,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/13\/ifc-ebrd-to-invest-in-algebras-second-fund\/","url_meta":{"origin":553909,"position":4},"title":"IFC, EBRD to invest in Algebra\u2019s second fund","author":"enterpriseam admin","date":"13 October 2021","format":false,"excerpt":"IFC, EBRD are getting in on first close of Algebra\u2019s second fund: The International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD) are set to participate in the first close of Algebra Ventures\u2019 USD 90 mn second tech fund, Algebra Ventures Managing Partner Tarek Assaad tells\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-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":561434,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/algebra-ventures-doubles-down-on-egypt-with-usd-90-mn-fund\/","url_meta":{"origin":553909,"position":5},"title":"Algebra Ventures doubles down on Egypt with USD 90 mn fund","author":"enterpriseam admin","date":"7 April 2021","format":false,"excerpt":"Algebra launches USD 90 mn tech fund: Algebra Ventures has launched a second tech fund that will invest USD 90 mn into companies based in Egypt and the Middle East and Africa region, the VC outfit announced in a press release (pdf) yesterday. 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