
Climate-Focused VC Firm Satgana Secures €8 Million for Early-Stage Startups in Africa and Europe
Satgana, a venture capital (VC) firm specializing in climate solutions, announced the final close of its first fund.
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Avanz Capital Egypt has joined Algebra Ventures’ second fund as a limited partner through a secondary transaction executed by its investment arm, Avanz Manara.
The agreement—among the first of its kind in the country—underscores growing confidence in the maturity and resilience of the local tech ecosystem.
Haytham Wagih, Managing Director at Avanz Capital Egypt, described the arrangement as a landmark. He stated that beyond its financial aspects, “this deal is one of the first secondary LP investments in Egypt,” and serves as a testament to the strength and expansion of the domestic startup landscape.
He emphasized that Algebra’s track record of backing some of the country’s most promising tech ventures made this partnership a natural strategic fit.
From Algebra’s side, Managing Partner Tarek Assaad welcomed Avanz’s entry, noting that the firm brings both “experience and commitment” in the secondary-investment space.
He highlighted that Avanz has long supported Egypt’s burgeoning VC sphere and that their prior co-investment history provided a solid basis for deepening collaboration.
Observers view this deal as a watershed moment for Egypt’s capital markets. Secondary transactions—where an existing limited partner sells its stake to a new investor—are common in more mature markets but remain rare in Egypt’s evolving VC environment.
By enabling earlier fund participants to exit their positions, such mechanisms add liquidity and flexibility to the system, making investments in local funds more attractive to institutional players.
Though details such as the identity of the selling LP and the exact stake transferred were not disclosed, the move effectively strengthens Algebra’s investor base and sends a positive signal to entrepreneurs and backers alike.
Algebra Ventures, which raised its second fund in 2022 with a capital target of US$100 million, has continually been among Egypt’s foremost backers of homegrown tech founders.
With Avanz now on board, the expectation is that capital inflows into Egyptian and African startups will intensify, spurring innovation and reinforcing the region’s positioning in global technology investment flows.

Satgana, a venture capital (VC) firm specializing in climate solutions, announced the final close of its first fund.

SPE Capital Partners, through its AIF I Fund, has invested MAD 350 million (approximately $35 million) in Moroccan consumer goods company Dislog Group.

South African startup Omnisient has secured $7.5 million in Series A funding to accelerate its growth and expand its privacy-preserving data collaboration platform across Africa and beyond.