Egypt Ventures’ Board of Directors has approved a new long-term strategy focusing on impact investing principles to track Sustainable Development Goals (SDGs) across start-ups in Egypt.
Established in 2017, Egypt Ventures is an investment firm seeded by the Ministry of International Cooperation with a mandate of supporting and investing in startups from a diverse range of sectors across Egypt.
In a statement issued on Monday, the firm said its new strategy is focused on developing and implementing an impact management framework that maps the impact of the portfolio companies on SDGs and ensures that future investments achieve minimal impact criteria.
The strategy goals are to be achieved through a multi-stage investment model investing in early-stage start-ups through its accelerators, and investing in growth stage start-ups directly through Egypt Ventures, according to the statement.
One of the core objectives, the statement said, is to brand Egypt as MENA's hub for innovation and pool of talent, attracting both foreign and domestic investments in the Egyptian start-up industry. This has been achieved over the last three years through multiplying investments received for each million pounds invested by Egypt Ventures by an additional EGP 8 million from domestic and international private investors.
Egypt Ventures, through its affiliates and investments, invested in more than 107 companies, attracting foreign and domestic investments to the Egyptian start-up industry.
"Egypt Ventures targets empowering Egyptian youth and women entrepreneurs nationwide through investing in their innovations and start-ups,” according to the firm.