Avanz Capital Egypt Joins Algebra's Second Fund as Limited Partner

In a move that underlines the increasing confidence in Egypt’s venture capital ecosystem, leading private capital asset management firm, Avanz Capital Egypt (ACE), has joined Algebra Venture’s second fund as a limited partner.    Completed by way of a purchase through ACE’s direct investment company, Avanz Manara, the strategic seondary transaction is one of the first of its kind in Egypt, a milestone that isn’t lost on both parties. “Avanz has long been bullish on supporting the growing VC landscape in Egypt,” said Managing Partner at Algebra Ventures, Tarek Assad, said. “Together, we are excited to continue supporting visionary tech founders in Egypt and across Africa, helping them shape the future.” Meanwhile, Haytham Wagih, Managing Director at ACE, has hailed the deal as an indicator of the strength of Egyptian entrepreneurship and the opportunities that a still largely untapped African ecosystem holds. “Algebra has consistently pioneered venture capital in Egypt, backing some of the country’s most notable startups,” Wagih said. “Joining its second fund aligns perfectly with our strategy to support Egypt’s entrepreneurial ecosystem while also capturing opportunities across the wider African continent.”   The partnership aims to deepen collaboration and increase capital inflows, ensuring stronger backing for the next generation of tech founders