Karim Helal, the Chairperson of Sequence Ventures for venture capital management, revealed that his company aims to raise funds worth EGP 100-150m during the second quarter (2Q) of this year to reinject them into investment opportunities within a period of up to 18 months.
Helal also told Daily News Egypt that the company will increase the targeted financing, amounting to about EGP 500m, within three to five years.
He explained that his company aims to invest in Egyptian start-ups working in the fields of health technology, fintech, educational technology, logistics, and advanced information technology programmes.
Furthermore, the company is in the process of executing three new deals within two months, and the value of each deal is estimated at EGP 3-4m, which is the value determined by the company’s investment policy in one deal. He also expects that about 30 deals will be implemented by the end of 2023.
Additionally, Helal believes that the Egyptian market is full of opportunities in various sectors, especially the defence sectors, which have attracted a great deal of attention over the past period and will continue to be in the spotlight, especially with the country’s population growth and the fact that it is becoming the largest consumer market in the Middle East, Asia, and Africa.
He added that the top promising sectors are health and education, which suffer from a clear deficiency in terms of the volume of investments injected into them. This requires the private sector to focus on these sectors to develop services and keep pace with the urban development implemented by the Egyptian state.
