
Seedstars Africa Ventures I Achieves $42 Million First Close to Support African Startups
Seedstars Africa Ventures I, a venture capital fund dedicated to early-stage startups in Africa, has reached a landmark $42 million first close.
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Development Partners International (DPI), the London-based private equity firm, has committed an additional $50 million in follow-on funding to support Kazyon, the fast-growing Egyptian discount retail chain, as it scales operations across the Middle East and North Africa.
In a statement accompanying the announcement, DPI partner Jade Del Lero Moreau indicated that the new capital injection is earmarked to accelerate Kazyon’s expansion in international markets, with specific focus on Morocco and Saudi Arabia, among other regional opportunities.
DPI’s renewed backing follows its earlier major equity investment into Kazyon and reflects continued investor confidence in the retailer’s business model and growth trajectory.
Since that initial investment, Kazyon has expanded its footprint to around 1,600 stores spanning three countries and has built a workforce of more than 11,000 employees.
The company has actively pursued strategic acquisitions and new market entries, most notably its acquisition of a stake in Saudi discount retailer Al Dukan and its entry into Morocco, moves that have diversified its geographic presence and strengthened its position as a multi-country retail platform.
According to DPI, this latest investment will enable Kazyon to deepen its reach and continue offering consumers everyday products at competitive prices, supported by a wide supplier base, a scalable operational model, and its growing portfolio of private-label brands.
DPI emphasized that the firm is enthusiastic about supporting Kazyon’s ambitions to make quality, affordable goods more accessible across the region as the company pursues further growth.

Seedstars Africa Ventures I, a venture capital fund dedicated to early-stage startups in Africa, has reached a landmark $42 million first close.

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