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Cairo-Based Foundation Ventures Secures $25M To Back Egypt’s Startups

by THEFUTURE.TEAM

February 3, 2025

Cairo-based venture capital firm Foundation Ventures has successfully raised $25 million for its second fund, FVFII, aimed at supporting early and growth-stage startups in Egypt.

Key Highlights

The new fund has attracted key investors such as the Egyptian American Enterprise Fund (EAEF), the Micro, Small, and Medium Enterprise Development Agency (MSMEDA), and businessman Onsi Sawiris.

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FVFII targets early- and growth-stage Egyptian startups with plans for regional and global expansion. While the primary focus is on Egypt, the fund will also allocate capital to high-potential startups across Africa. It plans to invest in ventures with initial ticket sizes ranging from $750,000 to $1 million.

The fund’s strategy is theme-driven, rather than sector-specific, ensuring flexibility in investment decisions while maintaining a primary focus on the Egyptian market and secondary opportunities in Africa.

Foundation Ventures’ Growth

Foundation Ventures launched its first fund, FVF1 Vintage, in 2019. The firm is led by Mazen Nadim, managing partner, with partners Omar Barakat and Ziyad Hamdy. The company also has a strategic partnership with HOF, a US-based VC firm managing over $1.5 billion in assets under management, serving as a General Partner.

The firm’s portfolio includes promising startups such as Rabbit, Flextock, Swypex, Aydi, Trella, and Abwaab.

Opportunities In Egypt’s Startup Landscape

Nadim noted that Egypt’s devalued currency offers a unique opportunity for startups to leverage the country’s skilled tech talent while positioning Egypt as a cost-efficient testing ground for new ventures.

In 2024, Egypt attracted $334 million across 84 deals, with the fintech sector leading with $237 million invested across 17 fintech startups, according to Wamda and Digital Digest. The logistics sector secured $23.5 million, while e-commerce raised $22.5 million.

Most of the capital came from local investors, with Saudi investors following closely behind. Notable recent investments include a $13 million funding round for Simplex, a CNC machine manufacturing startup, and $22 million raised by Paymob in a Series B extension round, bringing its total Series B funding to $72 million.

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EU Regulation May Undermine Its AI Ambitions, Warns U.S. Ambassador

by THEFUTURE.TEAM

March 30, 2026

Regulatory Stringency Threatens Europe’s Future In AI

Andrew Puzder said EU regulatory pressure on U.S. technology companies could affect Europe’s access to AI infrastructure. He said access to data centers, data resources and hardware remains linked to U.S.-based providers.

Balancing Oversight And Global Technological Competitiveness

Puzder’s remarks arrive amid a period of aggressive regulatory measures undertaken by the European Commission against major U.S. tech companies. According to Puzder, imposing excessive fines and constantly shifting regulatory goals may force these companies to retreat from the EU market, leaving the continent on the sidelines of the AI revolution. He noted, “If you regulate them off the continent, you’re not going to be a part of the AI economy.”

U.S. Concerns Over Regulatory Overreach

Critics from across the Atlantic, including figures from former U.S. administrations, have repeatedly lambasted the EU’s stringent policies. Puzder stressed that without a conducive business environment supported by robust U.S. technology infrastructures, Europe’s ambitions in AI might remain unrealized. The warning carries significant implications for transatlantic trade relations and the future integration of technology across borders.

Specific Cases: Impact On Major Tech Companies

Recent EU enforcement actions include fines and regulatory decisions affecting major U.S. technology companies operating in the region. Meta was subject to regulatory action following policy-related concerns. Apple received a €500 million penalty, while Google was fined €2.95 billion in an antitrust case. X, owned by Elon Musk, was also fined €120 million in recent months. Marco Rubio criticized these measures, citing concerns about their impact on U.S. technology companies.