The new initiative, called DPI Venture Capital, will focus on early-stage and growth-focused tech companies that contribute to the continent’s expanding middle class.

The launch comes as DPI finalizes a key restructuring deal, taking over the advisory role for the Nclude Innovation Fund—Africa’s largest fintech-focused investment fund.

Originally established in March 2022, Nclude has invested over $28 million in nine startups, including Paymob, Khazna, Flapkap, and Connect Money. 

Backers of the fund include Egypt’s biggest national banks—Banque Misr, National Bank of Egypt, and Banque du Caire—as well as institutional investors like e-Finance Investment Group, EBC, and Mastercard.

As the new investment advisor, DPI now oversees Nclude’s full portfolio of $105 million in assets.

The fund, while primarily focused on Egypt, is allowed to invest up to 30% of its capital in other markets across the Middle East and Africa, helping companies from the region grow into the Egyptian market.

Egypt remains a key area for DPI. Over the past ten years, the firm has channeled nearly $850 million into the country’s economy.

The addition of Nclude to DPI’s portfolio strengthens its presence and influence in the Egyptian tech ecosystem.

DPI Venture Capital is led by Managing Partner Ashley Lewis and includes a dedicated team of specialists, including Mohamed Aladdin, who joins as General Partner.

Commenting on the move, DPI Co-Founder and CEO Runa Alam said the launch of DPI Venture Capital marks a significant step in offering more ways for investors to back innovative African companies.

“This gives our partners access to some of the most promising businesses from their early stages,” she said. “Taking on Nclude allows us to build on our past successes in technology investment and deepen our impact.”

Ashley Lewis added that the African venture capital landscape has huge untapped potential.

“There’s an incredible chance for Africa-focused funds to help shape the startup ecosystem,” he said. “We’re thrilled to bring the Nclude team and their partners into the DPI family.”