To facilitate this expansion, Bpifrance has joined forces with Sawari Ventures, a prominent Egyptian VC firm, in a partnership aimed at fostering cross-continental collaboration.

 

Flat6Labs, a major player in Egypt’s startup ecosystem, will also play a crucial role in this initiative.

The collaboration is set to provide vital support for growth-stage companies and entrepreneurs, offering them access to funding, resources, and a broader network.

 

This move aligns with Bpifrance’s ongoing efforts to strengthen connections between Europe, Africa, and the Middle East.

Startups across the continent are experiencing rapid growth, and this collaboration seeks to capitalize on this momentum by offering much-needed financial support and strategic guidance to innovative enterprises.

This development also presents new opportunities for French companies aiming to expand into African markets, while African startups will benefit from increased access to research and development (R&D) facilities in France.

 

One of the primary objectives of the partnership is to boost co-investment opportunities between European and African VC firms.

Through the exchange of knowledge and resources, Bpifrance and Sawari Ventures expect this collaboration to foster commercial and technological partnerships, benefiting startups in both Europe and Africa.

 

Hany El Sonbaty, Co-Founder and Managing Partner of Sawari Ventures, emphasized the partnership’s importance, stating that it demonstrates a shared commitment to enhancing links between Africa, Europe, and the Middle East. 

 

She also noted that the platform will help entrepreneurs with pan-African and trans-regional ambitions scale their businesses more effectively.

Bpifrance’s expansion into Egypt aligns with a larger French strategy to deepen economic ties with North Africa.

 

Earlier this year, President Emmanuel Macron announced the launch of the “Fonds Maghreb,” a €100 million ($109.6 million) fund managed by Bpifrance to support French investments in Tunisia, Algeria, and Morocco.

 

This fund provides financial support to small and medium-sized enterprises (SMEs) and very small enterprises (VSEs), encouraging French businesses to establish a presence in the region through equity investments, loans, and export credits.