CASF - 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.

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