Egypt’s VCs Unite on First Standard Reporting with MSMEDA Backing
For the first time globally, all venture funds in a single market have aligned to set best practices and unify reporting standards.
In a first-of-its-kind move around the globe, Egypt’s top venture capital firms have aligned to adopt a unified platform for portfolio company reporting.
Spearheaded by Foundation Ventures in collaboration with MSMEDA and the World Bank, the initiative includes Algebra Ventures, Camel Ventures, Sawari Ventures, Shorooq Partners, and others, marking the first time an entire VC ecosystem in one country has agreed on standardised metrics and reporting practices.
The initiative aims to streamline data collection and improve transparency across the startup ecosystem, addressing long-standing inefficiencies in how performance is tracked and communicated. This effort is intended to build consistency in reporting and create a shared language between startups, investors, and stakeholders.
“This initiative sets a precedent for emerging markets globally,” Mazen Nadim, Managing Partner of Foundation Ventures, tells StartUpScene. “We are excited about enhancing Egypt’s investment attractiveness by providing the necessary transparency to encourage foreign direct investment as well as more opportunities for local startups to access capital.”
US-based platform Visible.vc was selected by all participating General Partners following a rigorous evaluation process, with implementation expected by mid-2025.
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