PROJECT

Projects

Summary of Investment Information

Project Number

46243

Company Name

DISRUPTECH VENTURES EGYPT B.V.

Date SPI Disclosed

Dec 10, 2021

Country

Egypt, Arab Republic of

Region

Africa

Projected Board Date

Dec 20, 2021

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Sep 30, 2022

Department

Equity Portfolio Management

Industry

Funds

Previous Events

Approved : Jun 1, 2020
Signed : Feb 11, 2022
Invested : Jun 9, 2022

Sector

Venture Capital Fund

Project Description

   IFC is considering an equity investment of up to US$5 million in Disruptech Fund I (“Disruptech” or the “Fund”) an Egypt-based seed fund that is raising US$25M (Hard-cap at US$ 30M) to invest in Egyptian fintech and fintech-enabled (insurance, e-commerce) startups. The fund will be managed by Mohammed Okasha (Co-founder of Fawry, Egypt’s first Unicorn), Yehia Abouelwafa, Malek Sultan and Dina Sherif.

Associated Advisory Engagement

     There are no Advisory Services engagements associated with this Project                                              

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation