Egypt-based investment firm Glint has completed the first close of its second venture fund at $3 million, supported by Wadi Degla Group.The new fund will focus on supporting startups through its proprietary venture studio model.
Glint Fund II seeks to support innovative entrepreneurs in building disruptive, tech-based Egyptian companies with the capability and mandate to penetrate the regional and international markets. It aims to invest between the Seed and Series A stages, with tickets ranging from $250K to $500K.
Since its establishment six years ago, Glint has helped build many bright businesses, such as Darwinz.ai, Iqraaly, Wasla, Kashier, and Filkhedma.
“Glint’s second fund represents an important step to further develop our ecosystem designed to support Egyptian tech-based startups looking to penetrate the regional and international markets,” said Tarek Aboualam, managing partner at Glint. He added: “Glint’s Venture Studio model is designed to provide much more than just capital; it provides an integrated platform offering business, operational and technical support as well as access to the regional market. We are thrilled to start working with our new LPs as well as continue working with our returning investors.
“Investing in startups that redefine and disrupt markets is more than just financial input; it’s about building a foundation for continuous innovation and significant regional growth,” added Youssef Helmy, General Partner at Glint. “The fund focuses on digital and disruptive industries, planning to make significant inroads into AI, fintech, and other cutting-edge technologies.”
