Aly El Shalakany - Afrikan Heroes

Egyptian Angel Network Announces Cairo Angels Syndicate Fund

December 10, 2021

A coalition of business angels in the Middle East Cairo Angels, announces the close of the Cairo Angles syndicate fund (CASF) and will be investing an average of $100, 000 – $250, 000 worth of ticket sizes across the Middle East and Africa, particularly Egypt, Saudi Arabia, the UAE, Nigeria, South Africa and Kenya. Asides the investment made by the fund, it also creates opportunities for investors to double down on opportunities by negotiating deal-by-deal investment rights for its LPs.

The fund is ready to release capital and is already in talks with startups that fit its investment thesis, targeting early-stage startups that are sector-agnostic with strong sector experience and technical teams. CEO of CASF, Aly El Shalakany said: “The Syndicate fund is a natural step towards the evolution of the Cairo Angels.”

“This is the new middle as it couples our strong deal sourcing platform with a more rigorous but faster due diligence and capital disbursement capability further down the value chain,” he added.

An institutional investor, who provided their soft commitment to support the fund was the only exception and will be formally joining in Q1, next year. CASF will now focus on reaching a $5million funding target and achieving the final close. Advanced talks with institutional investors that can support the fund in its mission and add value to the regional ecosystem are now being held. Board member of CASF, Minoush Abdelmeguid commented on the recent development saying,

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“The quality of opportunities coming through the pipeline has exceeded our expectations. Also, with the level of activity by startups seen in the market, we are greatly optimistic.”

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Cairo Angels New Fund To Invest In Startups In Nigeria, Kenya, South Africa And Egypt

December 9, 2021

The Cairo Angels Syndicate Fund (CASF), a Delaware-registered angel fund, has announced its first close to invest in startups in Africa and the Middle East. Cairo Angels is the Middle East and Africa’s biggest network of business angels.

“This fund is a natural step in the evolution of the Cairo Angels,” said Aly El Shalakany, CEO of CASF. “It couples our already strong deal sourcing platform with a faster and more rigorous due diligence and capital deployment capability further down the value chain. This is the new missing middle.”

Here Is What You Need To Know

CASF will invest in ticket sizes ranging from $100,000 to $250,000 across the Middle East and Africa, with a concentration on Egypt, the United Arab Emirates, Saudi Arabia, Nigeria, Kenya, and South Africa.

Aside from the fund’s investment, the fund negotiates additional co-investment rights for its limited partners (LPs) on a deal-by-deal basis, allowing investors to double down on possibilities.

The fund is ready to invest and is in talks with a number of start-ups that suit the fund’s investment thesis, which is to invest in sector-agnostic, early-stage scalable start-ups with strong sector experience and technical teams.

CASF consciously focused fundraising for the first closure on private investors and family offices in order to democratize access to this new asset class.

The sole exception was an institutional investor who has made a soft commitment to participate and assist the fund and will formally join in the first quarter of next year.

CASF will now focus on completing the final close and meeting its $5 million financial goal. The fund is now in advanced talks with institutional investors who can help the fund achieve its mission by adding value to the regional ecosystem.

“The pace and quality of opportunities coming through the pipeline, has far exceeded ourexpectations. Couple that with the level of startup activity seen in the market, and we have cause for great optimism,” said Minoush Abdelmeguid, Board Member of CASF.

Cairo Angels invest Africa Cairo Angels invest Africa

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Egypt’s Angel Investors Network Launches Global Investment Fund

November 16, 2020

A consortium of Cairo based investors have entered into an agreement to establish the Cairo Angels which will be Egypt’s first formal network of angel investors. This will be followed by the launching of a syndicate investment fund to back pre-Series A startups in Africa and the Middle East. The Cairo Angels, which invests in and supports startups and early-stage, high-growth businesses, said it has already started fundraising and aims to close during the first quarter of next year.

Sources close to the group say that the syndicate fund will target startups that are pre-Series A and looking to fuel growth and expand regionally, and Cairo Angels believes its executive team, investment committee and board will provide a unique value proposition, leveraging its expertise and relationship capital in order to maximise impact on portfolio startups.

Speaking about the development, member of the fund’s investment committee, Aly El Shalakany said that “we are always looking at ways to bring new ideas and innovation to our region and launching the fund is the next step in our evolution. We have enjoyed great success investing in this space and we now want to democratise access to this exciting asset class to active and passive investors alike. Our new model will bring something different to the market and provide much needed capital to a clear gap in the funding life cycle of startups in our region,” Investors who are interested in this asset class are invited to apply to join as a limited partner in the fund, and Cairo Angels will be hosting an information session in this regard on November 16.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Egyptian Startups Have A New $3m Micro Fund From VC Cairo Angels

November 10, 2020

Startups in Egypt have a new fund! Cairo Angels has gone VC, although still retaining its “angel structure”. The network of angel investors has launched a new $3 million micro fund to invest in early stage startups’ seed and pre-Series A in the Middle East and Africa region. One of the leading and oldest angel networks of the region, Cairo Angels has been actively investing in Egyptian startups.

*Aly El Shalakany, a member of the newly launched fund’s investment committee*

“This is an exciting time for Cairo Angels as we embark on this new venture to create our first fund. Since we’ve been pioneers in the industry, we are confident that this fund will bring a lot of value to investors, startups, and the community. This fund will create a unique opportunity for people to have access to innovative ideas at an affordable initial investment that is available for everyone,” Nader Aboushadi, a member of the fund’s board, said.

Here Is What You Need To Know

According to Zeina Mandour, the general manager of Cairo Angels, the fund has already secured a few commitments and expects to close in the first quarter of 2021.
It is aiming to raise USD 1.2–3 million and will deploy the capital immediately after closing.
VC funds usually monetize their funds by charging a management fee, which is 1–2.5% per year in the region, and by earning a carry on exits, which is normally 20%. However, Cairo Angels is bringing something different. No management fee! It is only hoping that it is incentivized by carry-on successful exits.

“We are always looking at ways to bring new ideas and innovation to our region, and launching the fund is the next step in our evolution. We have enjoyed great success investing in this space, and we now want to democratize access to this exciting asset class to active and passive investors alike.”

“Our new model will bring something different to the market and provide much-needed capital to a clear gap in the funding life cycle of startups in our region,” Aly El Shalakany, a member of the newly launched fund’s investment committee, said.

What Happens To The Old Cairo Angels?

Still intact is the best answer. Cairo Angels will continue to operate its angel network as well as continue to achieve the network’s goals of investing in pre-seed and seed-stage opportunities in Egypt. The new fund will however focus on seed and pre-Series A opportunities across the Middle East and Africa, with a major focus on Egypt and Saudi Arabia. The size of the fund is quite small and so would, probably, only assist startups close their rounds.

Cairo Angels seems to be emulating Alexandria Angels (more commonly known as Alex Angels). The angel network, in April this year launched Alex Angels Fund, a $6.3 million (EGP 100 million) fund to invest in Egyptian startups. The announcement was first made during a virtual investor masterclass held by Alex Angels and few other entities.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer