EGYPT Law and Practice Contributed by: Arig Ali and Lana Abd El-Rassoul, Zaki Hashem, Attorneys at Law
Zaki Hashem, Attorneys at Law 23 Kasr El Nil Street Cairo 11211 Egypt Tel: (+20-2) 2399 9999 (+20-2) 2393 3766 Fax: (+20-2) 2393 3585
Email: law@hashemlaw.com Web: www.hashemlaw.com
1. Trends 1.1 VC Market
Nevertheless, the market has seen substan- tial VC activity, particularly in more mature and growth-stage companies. These transactions demonstrate sustained interest from investors in Egypt’s innovation-driven sectors and high - light the potential of Egyptian startups to scale regionally and attract strategic capital. In the past year, notable VC transactions in Egypt have included the following. • In May 2025, Nawy, an Egyptian proptech startup, raised USD52 million in a Series A equity funding round led by Partech Africa, with participation from other investors. Nawy also secured USD23 million in debt financing from Egyptian banks and financial institutions. • Also in May, MoneyFellows, an Egyptian fintech startup, raised USD13 million in a pre- Series C round led by Al Mada Ventures and DPI Venture Capital via the Nclude Fund, with the participation of other investors. • USD16 million secured by Khazna in a pre- Series B funding round in February 2025. The round attracted investments from both new and existing backers, including global firms such as Quona and Speedinvest, as well as regional investors such as Aljazira Capital, anb Seed Fund, DisrupTech Ventures, ICU
Over the past 12 months, Egypt’s venture capital (VC) landscape has continued to show resilience and adaptability, even amid global investment slowdowns and local economic challenges. One of the defining features of the current market structure is that acquisitions and capital injec - tions often take place at the level of offshore Special Purpose Vehicles (SPVs), which are set up by the founders of Egyptian operating com - panies. This particular structure reflects the pref - erence among investors for familiar legal frame - works and currency flexibility. Additionally, while the traditional classification of funding rounds (Series A, B and beyond) remains part of the local investment language, their conventional definitions – widely recog - nised in more mature VC ecosystems – have become less indicative in the Egyptian market. This shift is primarily attributed to modifications in local investment practices, influenced signifi - cantly by recent currency devaluations. Conse - quently, these traditional classifications may not accurately represent a company’s actual stage of development or funding structure as they typi - cally do in more developed VC environments.
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