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[FUNDING NEWS] Egypt-Based Glint Secures First Close for Its Second Venture Fund at $3 Million

The first close of Glint's second venture fund was announced by the boutique consulting and investment firm based in Egypt. The fund secured an initial investment of $3 million USD, led by Wadi Degla Group.

The first close of Glint’s second venture fund was announced by the boutique consulting and investment firm based in Egypt. The fund secured an initial investment of $3 million USD, led by Wadi Degla Group.

Glint Fund 2 will invest between the Seed and Series A stages with ticket sizes ranging from $250K to $500K, with an emphasis on assisting entrepreneurs through its unique venture studio approach.

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It has a history of supporting prosperous businesses such as Filkhedma, Wasla, Iqraaly, Darwinz.ai, and Kashier, wants to expand Egypt’s tech startup scene by offering access to regional markets, business, operational, and technical support, in addition to funding.

The first closing of it’s second venture fund was announced by the boutique consulting and investment firm based in Egypt. Glint’s new fund, anchored by Wadi Degla Group, has an initial closure of USD 3 million. Its distinctive venture studio concept will be used to help entrepreneurs.

Glint Fund 2 aims to invest between the Seed and Series A stages with tickets ranging from $250K to $500K. Its mission is to encourage creative entrepreneurs in creating disruptive, tech-based Egyptian enterprises that have the potential and mandate to enter regional and international markets.

Read also – Singapore-Based UXUY Secures $7 Million in Pre-A Funding

It has contributed to the development of numerous innovative companies, including Darwinz.ai, Iqraaly, Wasla, Kashier, and Filkhedma, since its founding six years ago.

“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.

“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.

About Glint

Glint is a small-scale management consultancy and venture capital organisation. They develop and invest in growth tech startups located in Egypt, giving special attention to businesses that upend established business models and exhibit a strong potential to take over local or international markets.

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