{"id":5154,"date":"2022-10-04T13:45:48","date_gmt":"2022-10-04T13:45:48","guid":{"rendered":"https:\/\/gulftimes.ae\/egyptian-vc-firm-algebra-ventures-finalizes-first-close-of-100m-fund\/"},"modified":"2022-10-04T13:45:48","modified_gmt":"2022-10-04T13:45:48","slug":"egyptian-vc-firm-algebra-ventures-finalizes-first-close-of-100m-fund","status":"publish","type":"post","link":"https:\/\/gulftimes.ae\/?p=5154","title":{"rendered":"Egyptian\u00a0VC firm Algebra Ventures finalizes first close of $100m fund"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div class=\"field field-name-field-publication-date field-type-datestamp field-label-hidden\">\n<div class=\"field-items\">\n<div class=\"field-item even\"><span class=\"date-display-single\">Tue, 2022-10-04 16:42<\/span><\/div>\n<\/div>\n<\/div>\n<div class=\"field field-name-body field-type-text-with-summary field-label-hidden\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p>\n\tRIYADH: Egypt-based venture capital firm Algebra Ventures has finalized a $100 million first close of its second fund \u2014 exceeding the $90 million target.<\/p>\n<p>\n\tThe company, which is set to invest $15 million in startups by the end of the year, is expecting to make its final close by the end of the first quarter of 2023.<\/p>\n<p>\n\tThe company\u2019s second fund is backed by existing limited partnerships from the first fund including IFC, EBRD, and EAEF in addition to new investors like FMO, BII, MSMEDA, DGGF and regional family offices.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"field field-name-field-binary field-type-image field-label-hidden\">\n<div class=\"field-items\">\n<div class=\"field-item even\"><\/div>\n<\/div>\n<\/div>\n<div class=\"field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above\">\n<div class=\"field-label\">Main category:&nbsp;<\/div>\n<div class=\"field-items\">\n<div class=\"field-item even\">Business &amp; Economy<\/div>\n<\/div>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.arabnews.com\/node\/2174976\/business-economy\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tue, 2022-10-04 16:42 RIYADH: Egypt-based venture capital firm Algebra Ventures has finalized a $100 million first&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-5154","post","type-post","status-publish","format-standard","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.0 (Yoast SEO v27.4) - 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