The angel investment network is opening their applications for startups looking to raise LE 250,000 ($14,000) to LE 2 million ($110,000) across Egypt and the Middle East.
Focusing on early-stage companies across all sectors, Cairo Angels is opening their applications to find the region's most determined startups looking to raise between LE 250,000 ($14,000) to LE 2 million ($110,000). The network, which has already invested over $2.3 Million since its founding in 2012, is looking to funding a portion of the round and syndicate with other angel groups or early-stage venture funds. "The company should be close or beyond commercialisation stage and have a clear and defensible competitive advantage. We are looking for well articulated and cost-efficient businesses that can reach profitability preferably with a total investment of less than EGP 5 million of equity investment over the lifetime of the company," says the network's Manager, Menna Abdel Rahman.
"We host regular investment rounds and are always looking to find brilliant and innovative entrepreneurs who are working on a great product or service," Abdelrahman says. "Through Cairo Angels they can access seed funding from the leading business angels in Egypt; we are looking for startups looking to propel their first leg of growth into the market and work on their product market fit," she explains, adding that their minimum target return “three to five, in three to five” (3-5 times investment return in 3-5 years) "though we firmly believe that ten times return is achievable in the Egyptian market," she points out.
Founded in 2012 by Hossam Allam, Cairo Angels has invested in 21 Startups across six cities in Egypt and Across the MENA region; including Elves, Orcas, Bosta, Zoomaal, and Play A3rabi. Although most of their investments have been in the tech space, Cairo Angels aims to invest across all sectors, with a particular appetite for export oriented products and services. They are particularly interested in businesses from the agricultural, logistics and energy sectors, and hope to see more women entrepreneurs applying- not just from Cairo, but from the Middle East as a whole!