{"id":577306,"date":"2022-11-17T04:06:17","date_gmt":"2022-11-17T04:06:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/17\/modus-capital-could-invest-in-egyptian-ai-blockchain-startups-with-new-usd-75-mn-fund\/"},"modified":"2022-11-17T04:06:17","modified_gmt":"2022-11-17T04:06:17","slug":"modus-capital-could-invest-in-egyptian-ai-blockchain-startups-with-new-usd-75-mn-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/17\/modus-capital-could-invest-in-egyptian-ai-blockchain-startups-with-new-usd-75-mn-fund\/","title":{"rendered":"Modus Capital could invest in Egyptian AI, blockchain startups with new USD 75 mn fund"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Modus\u2019 new fund eyes African tech startups \u2014 including here: <\/strong>MENA-focused venture capital firm Modus Capital has launched a fresh USD 75 mn fund, dubbed Modus Africa, that will target early-stage African startups, it <a href=\"https:\/\/ent.news\/2022\/11\/Modus-launches-75M-Africa-Fund.pdf\">said (pdf)<\/a> on Tuesday. The fund will invest in companies that use AI and blockchain technology and is expected to reach first close in 1Q 2023.<\/p>\n<p><strong>It\u2019s looking at Egypt:<\/strong> Modus is in talks with a number of local companies, Modus Africa General Partner Andre Ayotte told Enterprise. The firm isn\u2019t sharing the names of the companies at this stage, he said, but added that it is looking at \u201cstartups across all sectors.\u201d The proviso: They need to be using AI and blockchain technologies.<\/p>\n<p><strong>Ticket size and other particulars: <\/strong>The fund is looking to write cheques to some 45 or so companies in the \u201cseed plus\u201d stage, with ticket sizes in the USD 350k to USD 1.2 mn range \u2014 and up to USD 2 mn for follow-on investments, Ayotte told us.<\/p>\n<p><strong>About Modus: <\/strong>Modus has established branches in <a href=\"https:\/\/enterprise.press\/stories\/2018\/11\/08\/new-york-based-modus-capital-launches-in-egypt\/\">Cairo<\/a>, Abu Dhabi, and most recently Riyadh, and is supported by backers including Mubadala's <a href=\"https:\/\/hub71.com\/\">Hub71<\/a> and USAID. It participated in Egypt-based blockchain email service provider Pravica\u2019s USD 500k pre-seed funding round <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8d643929-985c-4c10-b994-aa4cf86f338d\">back in 2020<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Modus\u2019 new fund eyes African tech startups \u2014 including here: MENA-focused venture capital firm Modus Capital has launched a fresh USD 75 mn fund, dubbed Modus Africa, that will target early-stage African startups, it said (pdf) on Tuesday. The fund will invest in companies that use AI and blockchain technology and is expected to reach [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":577307,"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":[7094,707,72,6389,95,123,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-ai","tag-blockchain","tag-enterpriseam","tag-modus-africa","tag-startup-watch","tag-startups","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"3ca1bdb7-a097-4e17-90ea-da0bbd3b220e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/275.jpg","photo_position":"above","related_issue":[577299],"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>Modus Capital could invest in Egyptian AI, blockchain startups with new USD 75 mn 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\/11\/17\/modus-capital-could-invest-in-egyptian-ai-blockchain-startups-with-new-usd-75-mn-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Modus Capital could invest in Egyptian AI, blockchain startups with new USD 75 mn fund\" \/>\n<meta property=\"og:description\" content=\"Modus\u2019 new fund eyes African tech startups \u2014 including here: MENA-focused venture capital firm Modus Capital has launched a fresh USD 75 mn fund, dubbed Modus Africa, that will target early-stage African startups, it said (pdf) on Tuesday. The fund will invest in companies that use AI and blockchain technology and is expected to reach [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/17\/modus-capital-could-invest-in-egyptian-ai-blockchain-startups-with-new-usd-75-mn-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-17T04:06:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/275.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/17\/modus-capital-could-invest-in-egyptian-ai-blockchain-startups-with-new-usd-75-mn-fund\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/17\/modus-capital-could-invest-in-egyptian-ai-blockchain-startups-with-new-usd-75-mn-fund\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Modus Capital could invest in Egyptian AI, blockchain startups with new USD 75 mn fund\",\"datePublished\":\"2022-11-17T04:06:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/17\/modus-capital-could-invest-in-egyptian-ai-blockchain-startups-with-new-usd-75-mn-fund\/\"},\"wordCount\":217,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/17\/modus-capital-could-invest-in-egyptian-ai-blockchain-startups-with-new-usd-75-mn-fund\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/275.jpg?fit=%2C&ssl=1\",\"keywords\":[\"AI\",\"blockchain\",\"EnterpriseAM\",\"Modus Africa\",\"Startup watch\",\"startups\",\"venture capital\"],\"articleSection\":[\"Startup watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/17\/modus-capital-could-invest-in-egyptian-ai-blockchain-startups-with-new-usd-75-mn-fund\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/17\/modus-capital-could-invest-in-egyptian-ai-blockchain-startups-with-new-usd-75-mn-fund\/\",\"name\":\"Modus Capital could invest in Egyptian AI, blockchain startups with new USD 75 mn fund - 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Modus is currently in the\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621451,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/08\/new-york-based-modus-capital-launches-in-egypt\/","url_meta":{"origin":577306,"position":2},"title":"New York-based Modus Capital launches in Egypt","author":"enterpriseam admin","date":"8 November 2018","format":false,"excerpt":"INVESTMENT WATCH- New York-based Modus Capital launches in Egypt: Entrepreneurial venture capital firm Modus Capital, established in 2015, announced on Wednesday the official launch of its operations in Egypt. \u201cWe intend to work closely with our local partners to build the ecosystem, drive positive social change, whilst generating profits for\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":[]},{"id":658793,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/16\/sequence-ventures-to-roll-out-africa-focused-usd-50-mn-fund-in-2026\/","url_meta":{"origin":577306,"position":3},"title":"Sequence Ventures to roll out Africa-focused USD 50 mn fund in 2026","author":"enterpriseam admin","date":"16 January 2025","format":false,"excerpt":"The company also expects to complete its first close on its EGP 500 mn Egypt Deep-Tech Fund by the end of 1Q 2025","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\/2024\/12\/2493.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557645,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/27\/blockchain-startup-pravica-raises-funding-from-swiss-vc\/","url_meta":{"origin":577306,"position":4},"title":"Blockchain startup Pravica raises funding from Swiss VC","author":"enterpriseam admin","date":"27 September 2021","format":false,"excerpt":"Egyptian blockchain startup Pravica has received an undisclosed direct investment from Crypto Valley Venture Capital (CV VC), the company announced in a statement yesterday. About Pravica: Founded in 2019, Pravica offers a suite of secure communication software based on a decentralized blockchain network to ensure its users\u2019 data privacy and\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571169,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/egypt-based-blockchain-email-service-provider-pravica-raises-usd-500k-pre-seed-funding-round\/","url_meta":{"origin":577306,"position":5},"title":"Egypt-based blockchain email service provider Pravica raises USD 500k pre-seed funding round","author":"enterpriseam admin","date":"3 May 2020","format":false,"excerpt":"STARTUP WATCH- Egypt-based blockchain email service provider Pravica has raised a USD 500k pre-seed funding round led by 500 Startups, Magnitt reports. Modus Capital and Dyres Ventures also participated in the round. Pravica, which was originally named Dmails, plans to use the funding to grow its team and expand its\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\/577306","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=577306"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577306\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/577299"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/577307"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=577306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=577306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=577306"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=577306"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=577306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}