Original disclosure @ IFC website
Updated in EWS Apr 29, 2022
Disclosed by Bank Dec 10, 2021
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According to bank provided information, the 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.
The Fund is seeking to raise US$25 million in capital commitments with a hard cap at US$30 million. IFC has proposed an equity investment of up to US$5 million (not to exceed 20% of total commitments)
The Fund will be managed by its General Partner, “Disruptech Ventures Egypt B.V”. (incorporated), a Dutch limited liability holding company. The General Partner would be subject to Dutch jurisdiction.
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Co-Founder & Partner
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