ALGEBRA VENTURES FUND II
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Algebra Ventures is a leading technology VC firm in Egypt. The team launched their first early stage venture fund in 2016, and they are currently raising their second fund aimed at investing in technology start ups that leverage innovation to transform large markets. The Algebra team is based in Cairo.
What is our funding objective?
Algebra Ventures Fund II intends to focus on early stage technology start ups with high growth potential, led by passionate and capable teams, that have a unique value proposition, and that can generate significant economic returns.
Why do we fund this investment?
The intended investment in Algebra Ventures Fund II is a strong fit with FMO’s objectives to empower entrepreneurs and their local communities, to support innovation, and sustainable economic development in emerging markets and to reduce inequalities. Through this Fund investment, FMO aims to stimulate Egyptian entrepreneurship, increase access to follow on financing in the market, and contribute to the local VC ecosystem by supporting a fund manager with Egyptian roots and track record.
What is the Environmental and Social categorization rationale?
The fund will, similar to the Fund I portfolio, invest in early stage technology (enabled) companies which are associated with low E&S risk because of the limited number of employees and limited environmental impacts. Fund is classified as E&S B risk.
- Website customer/investment
- https://algebraventures.com/
- Region
- Africa
- Country
- Egypt
- Sector
- Infrastructure, Manufacturing and Services
- Publication date
- 12/8/2021
- Effective date
- 7/20/2022
- Total FMO financing
- USD 10.00 MLN
- Funding
- Ventures Program Africa EurNb
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B