Flat6Labs, a MENA-focused VC firm based in Egypt, has launched a USD 95 million fund to support the growth and development of early stage tech startups on the African continent.
Flat6Labs is one of the MENA region’s leading venture capital firms, focusing on seed and early stage investments. The company runs a number of startup programs across the region and is active in Egypt, Lebanon, Tunisia, Bahrain, Jordan, the UAE, and Saudi Arabia. To date, Flat6Labs has invested over USD 16 million in startups.
Flat6Labs – The Africa Seed Fund
The Africa Seed Fund (ASF) will focus on technology companies in North, West and East Africa. Flat6Labs will extend its reach into countries including Nigeria, Ghana, Kenya, Morocco, and Senegal. The company plans to invest in 160 businesses in pre-seed to pre-Series A stages over the next five years, with investments ranging from USD 150,000 to USD 500,000.
Alongside the investments, Flat6Labs will also provide companies with business support services, access to a regional network of mentors along with regulatory and logistical support.
The ASF will be led by general partners Ramez El-Serafy and Dina el-Shenoufy. El-Serafy said, “We are extremely excited about the launch of the Africa Seed Fund. Africa is one of the most exciting regions to invest in tech and innovation, with huge untapped potential and unique business opportunities. We will leverage our experience and knowledge to guide the startup founders to create truly scalable, investment-ready, Africa-based companies.”
Read our exclusive interview with Ramez El-Serafy, here.