Funding

Glint Successfully Raises $3M in Initial Close of its Second Venture Fund

What’s this about?

  • Glint, an investment firm in Egypt, has announced the first close of its second venture fund at $3 million, with a focus on supporting startups through its proprietary venture studio model.
  • Anchored by Wadi Degla Group, Glint Fund II aims to invest between the Seed and Series A stages, with tickets ranging from $250K to $500K, fostering the growth of disruptive, tech-based Egyptian companies poised for regional and international expansion.
  • With a track record of nurturing successful businesses like Darwinz.ai, Iqraaly, and Wasla, Glint’s Venture Studio model provides not only capital but also comprehensive support and access to regional markets, signalling a significant commitment to fostering innovation and regional growth in Egypt’s startup ecosystem.

Zoom in…

Glint, Egypt’s prominent boutique consulting and investment firm, today announced the first close of its second venture fund. With an initial close of $3 million, anchored by Wadi Degla Group, Glint’s new fund will focus on supporting startups through its proprietary venture studio model.

Glint Fund II seeks to support innovative entrepreneurs in building disruptive, tech-based Egyptian companies with the capability—and mandate—to penetrate the regional and international markets. It aims to invest between the Seed and Series A stages with tickets ranging from $250K to $500K. Since its establishment six years ago, Glint has helped build many bright businesses like Darwinz.ai, Iqraaly, Wasla, Kashier, and Filkhedma

What they are saying…

Glint’s second fund represents an important step to develop further our ecosystem designed to support Egyptian tech-based startups looking to penetrate the regional and international markets,” said Tarek Aboualam, managing partner at Glint, adding: “Glint’s Venture Studio model is designed to provide much more than just capital; it provides an integrated platform offering business, operational and technical support as well as access to the regional market. We are thrilled to start working with our new LPs and continue working with our returning investors.” 

Investing in startups that redefine and disrupt markets is more than just financial input; it’s  about building a foundation for continuous innovation and significant regional growth,” added  Youssef Helmy, General Partner at Glint. “The fund focuses on digital and disruptive industries,  planning to make significant inroads into AI, fintech, and other cutting-edge technologies.”

Source: wamda.com

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button