COREangels, an international community of angel funds and investors, has announced the launch of COREangels MEA, targeting early-stage startups in the Middle East and Africa.
COREangels, an international community of angel investors and funds, has announced the launch of COREangels MEA. The new network will seek to invest in early-stage startups in the Middle East and Africa. COREangels was founded in Portugal in 2019 and seeks to connect startups with angel investors from all over the world.
COREangels: Independent groups
COREangels is made up of a network of individuals who professionally invest as a business angel. The network is structured around regional groups, which are formed as independent companies. All business angels in each COREangels group invest together in the group’s portfolio, which is managed by the group’s leaders. Each group has its own investment approach and autonomy in investment decisions. Group leaders are responsible for screening startups and taking them to the group’s Investment Committee. New investments are approved democratically with a majority vote. Each business angel has one vote, regardless of the amount they have invested.
The groups are supported by COREangels’ Head Office, which aids with the development of each group, preparing and training new group leaders and defining and guaranteeing governance standards. COREangels supports the leaders in attracting investors, business flow, startup evaluation and grants access to an international network. The Head Office also provides support in branding, website creation, setup, administration, documentation, planning, marketing and more.
Sourcing unique investment opportunities
The new group will focus on the Middle East and Africa and will be led by PTS Holding’s ORO Partners. Maha Mandour, Group Managing Director of PTS Holdings, said, “The vision is to source unique investment opportunities in innovative ideas and startups in the region from a new generation of young talented individuals and working with them closely to play a significant role in a way that will guarantee a brighter future for the region.” Reem Sherif, Managing Partner of ORO Partners, expressed excitement on leading the COREangels MEA fund and was looking forward to welcoming both startups and investors on board, she said.
Tech-focused
This fund will invest in pre-seed and seed tech-startups in the Middle East and Africa, targeting startups and angel investors. The organization will be based in Cairo.
Fintech continues to dominate funding across Africa and the MENA region.