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A new Flat6Labs fund in the pipeline: Regional VC firm Flat6Labs is planning to launch a USD 85 mn seed fund that will focus on startups in Egypt, Tunisia, and Africa at large by next year, Flat6Labs CIO Dina El Shenoufy told Enterprise.
What’s next? The firm is currently in talks with a number of financial institutions — including the International Finance Corporation — over their participation in the fund, she added.
What sectors is the firm eyeing? Climate change solutions are among the firm’s priority sectors, as well as edtech, logistics, healthcare, and agritech — a field that is in high demand in Egypt and other African markets, El Shenoufy told us.
Flat6Labs’ portfolio: The firm currently manages some USD 96 mn-worth of investments in Egypt and the Arab world, El Shenoufy said. It has invested in 160 startups in the Egyptian market across various fields — including 95 companies operating in the tech, healthcare, e-commerce, and logistics sectors through its first USD 13 mn fund.
ALSO- Flat6Labs to participate in the relaunched Shell Intilaaqah Egypt Program, under a collaboration agreement with Shell Egypt, Shell Egypt said in a press release (pdf). The program aims to support over 1k Egyptian entrepreneurs a year, with Flat6Labs helping them define their mission, vision, and initial strategy.
