The fund aims to support startups at various stages, from early development to scaling regionally and internationally.

With a strong focus on fostering Egyptian startups, Foundation Ventures has built a reputation for backing early and growth-stage companies.

The new fund has garnered support from notable investors, including the Egyptian American Enterprise Fund (EAEF), the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), and entrepreneur Onsi Sawiris.

While the primary investment focus remains on Egypt, a portion of the capital will also be allocated to high-potential startups across Africa.

According to Mazen Nadim, managing partner at Foundation Ventures, Egypt presents a unique opportunity for startups due to its rich tech talent pool and strategic economic position in the Middle East and Africa.

“The currency devaluation provides startups with an advantageous cost structure, allowing them to access top-tier tech talent and refine their business models efficiently before expanding regionally and globally,” Nadim explained.

Beyond financial investment, the firm extends strategic support to its portfolio companies, offering them access to Egypt’s largest enterprise network. This approach is designed to help startups establish a strong foundation locally before pursuing wider market opportunities.

Meanwhile, the Egyptian-American Enterprise Fund sees the partnership with Foundation Ventures as a move toward fostering innovation and economic growth in the region:

“We are confident in the talent and vision of the Foundation Ventures team and committed to supporting entrepreneurs who are shaping the future of the region,” said Yasmine Ghobrial, EAEF’s chief investment officer.