- Avanz Capital Egypt (ACE) joins Algebra Ventures Fund II ($100M) as a Limited Partner through Avanz Manara.
- The deal represents one of the first Secondary LP Transactions in Egypt’s VC market.
- The partnership will deepen capital inflows, drive innovation, and support startups shaping Egypt and Africa’s digital future.
Avanz Capital Egypt (ACE), a leading private capital asset management firm, has joined Algebra Ventures Fund II as a Limited Partner through a secondary transaction executed via its direct investment arm, Avanz Manara. This marks a strategic partnership between two key players in Egypt’s investment landscape and signals strong confidence in the country’s venture capital ecosystem.
Commenting on the transaction, Haytham Wagih, Managing Director at Avanz Capital Egypt, said:
“We are proud to partner with Egypt’s leading tech-focused venture capital firm. This transaction represents not only one of the first secondary LP investments in Egypt, but also a milestone that reflects the strength and growth of the local ecosystem. Algebra has consistently pioneered venture capital in Egypt, backing some of the country’s most notable startups. Joining its second fund aligns perfectly with our strategy to support Egypt’s entrepreneurial ecosystem while also capturing opportunities across the wider African continent.”
From Algebra Ventures, Tarek Assaad, Managing Partner, added:
“As pioneers of secondary transactions, Avanz brings both experience and commitment to our fund, and we are proud to welcome them as LPs in Fund II. Avanz has long been bullish on supporting the growing VC landscape in Egypt. We have built a strong relationship with the team over the years through joint investments and deeply appreciate our growing partnership. Together, we are excited to continue supporting visionary tech founders in Egypt and across Africa, helping them shape the future.”
This partnership highlights the growing strength of Egypt’s startup ecosystem and sets a precedent for secondary LP transactions in the region. By joining forces, Algebra Ventures and Avanz Capital Egypt aim to unlock more capital inflows, accelerate innovation, and empower the next generation of entrepreneurs driving digital transformation across Egypt and Africa.
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