Managing partner at Ideavelopers Tarek Assaad said that the venture capital firm plans to exit a number of companies over the two years to recover its investments. Assaad told Daily News Egypt that Si-ware Systems and DrBridge are the top contenders for possible exits.
He added that the two companies achieved an adequate number of clients, regional expansion, and business volume, which nominates them to be on the list of expected companies to exit from.
Assaad also highlighted the role played by the firm in adjusting the atmosphere of entrepreneurship and start-ups at early on. The firm started its activities at a time when there were no venture capital companies in the market and also contributed to many success stories in the start-ups ecosystem, such as Fawry, which was sold to foreign companies at more than $100m.
The firm has invested in 17 companies, including electronic medical applications, e-commerce, electronic payment, Arabic content service providers, a large number of software companies, as well as companies that develop games for social media networks.
Ideavelopers has restructured its investments in the domestic market over the last three years, according to the changes that have occurred in small- and medium-sized technology companies.
