Leading development partners GIZ Egypt, FMO, and AfricaGrow have announced the launch of the second edition of the “VC Grow” programme for new VCs.
The programme targets new and emerging fund managers operating in Africa or the Middle East, with a minimum allocation to Egypt of 25 per cent, investing equity or venture debt between the seed and Series A stages.
The platform for new VCs started with a first edition in 2022, trained 20 funds, accelerated four emerging funds, and ended with the 2022 Egypt VC Summit that brought international and regional investors to Cairo last June.
This year, the programme will invite 20 funds to a two-day bootcamp in Cairo delivered by market leaders and ultimately select five to join the acceleration programme, which provides six months of bespoke fundraising support, regular opportunities to pitch to LPs, market-based industry workshops by global leaders, and direct introductions to investors.
“The VC Grow programme develops a new generation of fund managers that will build the ecosystem in the region and beyond. As AfricaGrow, we continue to be part of this initiative supporting first-time VC managers with innovative approaches to address today’s social and environmental challenges,” said Anna Niedergesaess, E&S manager at DEG Impact.
Fund managers can apply to the programme here before May 1.
