Avanz Capital Egypt (ACE), a leading private capital asset management firm, has partnered with Algebra Ventures by joining its second fund as a Limited Partner through a secondary transaction executed via its direct investment arm, Avanz Manara. The move reflects growing confidence in Egypt’s venture capital ecosystem and marks one of the first secondary LP investments in the country.
Haytham Wagih, Managing Director at Avanz Capital Egypt, said: “This transaction is not only a milestone for Egypt’s investment landscape but also a reflection of the strength of the local ecosystem. Algebra has consistently pioneered venture capital in Egypt, backing many of the nation’s leading startups. Partnering with them aligns with our strategy to support entrepreneurship in Egypt while capturing opportunities across Africa.”
Tarek Assaad, Managing Partner at Algebra Ventures, added: “Avanz brings both expertise and commitment to our fund, and we are proud to welcome them as LPs in Fund II. We value our strong relationship with the Avanz team and look forward to jointly supporting visionary founders across Egypt and Africa.”
This partnership signals increased capital inflows and deeper collaboration between two of Egypt’s leading investment players. It paves the way for stronger support for entrepreneurs and the scaling of innovative startups, reinforcing Egypt’s position as a growing hub for venture capital and technology-driven growth across the continent.
