PROJECT

Projects

Summary of Investment Information

Project Number

45985

Company Name

ALGEBRA VENTURES II COOPERATIEF U.A

Date SPI Disclosed

Oct 13, 2021

Country

Egypt, Arab Republic of

Region

Africa

Projected Board Date

Dec 16, 2021

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Dec 21, 2023

Department

Equity Portfolio Management

Industry

Funds

Previous Events

Approved : Dec 16, 2021
Signed : Apr 5, 2022
Invested : Jun 21, 2022

Sector

Venture Capital Fund

Project Description

  The proposed project consists of an IFC equity commitment of up to $15 million in Algebra Ventures II Coöperatief U.A. (“Algebra II” or the “Fund”), a venture capital fund domiciled in Netherlands with a target size of $90 million. The Fund will invest in technology startups in Egypt and opportunistically in the broader Middle East and Africa (“MEA”) region. A separate co-investment envelope of up to $15 million will also be part of the project.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation