An Egyptian daring capital business wants to invest $ 50 million in Africa

The Egyptian company “Sequney Ventures” is looking for a daring capital to launch an investment fund in the emerging technology companies in Africa, as “Africa Deep Tech”, at a value of $ 50 million next year, according to Saif Zoghbi’s statements, the managing director of the company. Zoghbi added that his company is aimed at completing the first closure of its “SV Dib Tech Tech Technology Investment” fund at a value of 500 million pounds at the end of the first quarter of this year, with the participation of banks and local financial institutions and companies from the private sector, and expects the amount to invest in two years. The Company “Since Vinks” was established in 2020 at Karim Hilal, who is the chairman of the board of directors, Majid Shawky, Chairman of the Catalyst Partners, who holds the position of vice chairman, Mohamed Al Suwaidi, Chairman of the Federation of the Federation of the Federation, and Company’s Board of Directors, and Mohamed Sharif, General Manager of “Ironwood” Investments, as a Founding Partner, with his founder in “Ironwood”, Mohamed Fahmy as an administrative partner. “Since Ventures” focuses on deep technology targets “seasonal businesses” investments in deep technical enterprises that work in health, education, agriculture, logistics services and climate, that work to develop artificial intelligence technologies, robots, advanced materials, synthetic neighborhoods, the future of calculation and renewable energy, according to Zoghbi. This comes because daring capital financing in the Middle East dropped during 2024, despite the increase in the number of transactions, as investors turn their attention to investments still in the early stage, according to Bloomberg. The amount of funding collected by startups in the region reached $ 1.5 billion, which is a 29% decline compared to the previous year, according to a report issued by the Bold Capital Data Platform “Magnitt” and is located in Dubai.