Avanz Capital Backs Algebra Ventures Fund II, Sparking Egyptian VC Growth

Malaz Madani

Last updated 25-09-2025

3 min

Avanz Capital Egypt joins Algebra Ventures’ second fund, marking a key moment in Egyptian venture capital.

Managing Director Haytham Wagih highlights the investment as a boost to Egypt's entrepreneurial spirit.

This secondary transaction is rare, potentially increasing market liquidity for budding startups.

Algebra Ventures' Tarek Assaad notes Avanz's experience will strengthen connections across African opportunities.

The partnership fuels optimism for Egyptian and African innovators, paving paths for future growth.

Avanz Capital Egypt has stepped into the spotlight this week by joining Algebra Ventures’ second fund as a Limited Partner. The deal, carried out through a secondary transaction by Avanz’s direct investment arm, Avanz Manara, is more than just another handshake. It signals a growing faith in Egypt’s venture capital scene and, in truth, a bit of a milestone for the region.

Haytham Wagih, Managing Director at Avanz Capital Egypt, called it a proud moment, pointing out that this is one of the first secondary LP investments of its kind in the country. He stressed that the partnership is not only about putting money on the table, but about fuelling Egypt’s entrepreneurial spirit while taking a broader view of opportunities across Africa. It’s a win-win in his book, and frankly, I reckon he’s spot on.

From Algebra Ventures’ side, Managing Partner Tarek Assaad also welcomed the move warmly. He highlighted that Avanz brings both experience and clout to Fund II, having already played an active role in Egypt’s investment landscape through earlier collaborations. The tone from him was clear: this isn’t just another investor sliding into the cap table. It feels more like two old colleagues shaking hands on stage after years of working in the same trenches.

That said, the deal isn’t only about symbolism. Secondary transactions are still relatively rare in Egypt’s venture ecosystem, so Algebra and Avanz are charting new territory together. On the flip side, such moves can pave the way for more liquidity in the market—something young founders often complain is in short supply.

I remember talking to a group of startup founders at an Arageek community event in Cairo not long ago. Many were buzzing with ideas but fretting over how few funding pathways were really open to them. To see secondary deals like this pop up now… well, it’s the sort of proof point that makes those late-night brainstorming sessions feel worthwhile.

Algebra, of course, has already earned a reputation for spotting some of Egypt’s most successful tech outfits early on. Add Avanz’s capital and strategic weight, and you’ve got the makings of a stronger bridge between local entrepreneurs and wider African opportunities. That’s no small feat in a country where building a sustainable pipeline of growth capital has, at times, been a bit of a faff.

So yes, while it might sound like another press release to some, the reality is more exciting beneath the surface. Two seasoned players are deepening their ties, bringing fresh confidence not just for themselves, but for the next wave of Egyptian and African innovators. And believe it or not, that sort of partnership can be the nudge that helps turn bold ideas into companies we’ll all be talking about down the road. I’m definately chuffed to bits to see where this one heads.

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