Venture Capital 2025

EGYPT

Lebanon Israel

Jordan

Cairo

Saudi Arabia

Egypt

Libya

Law and Practice Contributed by: Arig Ali and Lana Abd El-Rassoul Zaki Hashem, Attorneys at Law

Contents 1. Trends p.167

1.1 VC Market p.167 1.2 Key Trends p.168 1.3 Key Industries p.168 2. Venture Capital Funds p.169

2.1 Fund Structure p.169 2.2 Fund Economics p.171 2.3 Fund Regulation p.171 2.4 Particularities p.171 3. Investments in Venture Capital Portfolio Companies p.172 3.1 Due Diligence p.172 3.2 Process p.173 3.3 Investment Structure p.173 3.4 Documentation p.174

3.5 Investor Safeguards p.174 3.6 Corporate Governance p.174 3.7 Contractual Protection p.175 4. Government Inducements p.176 4.1 Subsidy Programmes p.176 4.2 Tax Treatment p.176 4.3 Government Endorsement p.177 5. Employment Incentives p.177 5.1 General p.177 5.2 Securities p.177 5.3 Taxation of Instruments p.178 5.4 Implementation p.178 6. Exits p.178 6.1 Investor Exit Rights p.178 6.2 IPO Exits p.178 6.3 Pre-IPO Liquidity p.178 7. Regulation p.179 7.1 Securities Offerings p.179 7.2 Restrictions p.179

165 CHAMBERS.COM

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