Camel Ventures, a venture capital based in Egypt, has launched an investment vehicle called Camel Ventures for Investment I (CVI), which has a value of EGP 500 million ($16M). This initiative is aimed at supporting the growth of the Egyptian fintech startup ecosystem. CVI is regulated by the Egyptian Financial Regulatory Authority and offers both equity investments for early-stage startups as well as venture debt in local currency for later-stage startups.

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CVI has received investment from a diverse group of backers, including banks, financial institutions, and family offices from Egypt and the GCC. The Founding and Managing Team, consisting of Shehab Marzban, Mona El Sayed, and Mahmoud El-Zohairy, partnered with Al Ahly Capital Holding and dfin Holding to establish CVI as the first investor to focus specifically on fintech in Egypt.

CVI has already invested in ten different sectors in Egypt, including companies like Khazenly, Pharmacy Marts, and klickit. The management team is committed to working closely with startups, regulators, investors, peer VCs, and service providers to promote sustainable growth and create value for its investees and the broader fintech ecosystem.

Camel Ventures fintech Camel Ventures fintech

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard