Sawari Ventures, LLC, a Cairo, Egypt-based venture capital firm that focuses on investing in early and growth stage technology companies in the Middle East and North Africa, announced its launch.
The firm is led by Founder and Chairman Ahmed El Alfi, Hany Al-Sonbaty and Leslie Jump, who bring combined experience of over 70 years investing in technology, financial services and media companies.
Seeded by its partners, Sawari Ventures also announced Naguib Sawiris, Executive Chairman of Orascom Telecom, Mr. Sawiris as its first and primary fund sponsor and its debut investments in:
– ALZWAD Mobile Services, a Cairo-based operator of an infotainment and communications platform that enables content and mobile application developers to reach mobile users across the Middle East. Since its launch four months ago, ALZWAD has acquired over 300,000 subscribers;
– vimov an Alexandria-based developer of applications for the iPhone/iPad. Founded in 2008, the company has developed iSimulate and Weather HD.
These investments were made via the company’s first fund, Sawari Ventures I.
FinSMEs
18/01/2011