COREangels MEA has started a new venture fund focused on investing in startups. The Fund has a total capital of $10 million.
The Fund helps technology startups that work towards the Sustainable Development Goals (SDGs).
It uses a mix of global investors, local experts, and an innovation studio that offers services to help these startups grow and expand.
Maha Mandour, Chairwoman of PTS Holdings and co-founder of COREangels MEA, said that COREangels MEA will invest up to $150,000 in startups. They will also offer advice and technical support to help startups grow and enter new markets.
The Fund is part of PTS Investments Holding, a group that helps create sustainable startup communities. PTS works to build future-ready companies by connecting investments and business support with the Sustainable Development Goals.
The Fund helps startup founders by giving them money, technical support, business advice, and access to a strong network of investors. This support is backed by Kemtix Ventures, the group’s innovation and business branch.
Out of more than 1,000 companies that applied, five were chosen after a thorough review of their operations and investment potential by Kemtix Ventures.
These five companies were selected because they are ready to grow and match the goals and strategy of the Fund, including projects like the Egyptian Aqua Offers for loyalty programs.
The financial technology (fintech) sector in the Middle East and Africa is expected to grow beyond US$100 billion by 2028.
COREangels MEA uses smart investments to support startups that create solutions in areas like embedded finance, digital payments, lending, and improving access to financial services in different fields.
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