The Egypt-based VC firm Glint has completed the first close of its second venture fund, which will invest in early-stage startups, at US$3 million.
Glint is a boutique management consulting and investment firm, which since its establishment six years ago has helped build businesses such as Darwinz.ai, Iqraaly, Wasla, Kashier and Filkhedma.
It has now announced the first close of its second fund, at US$3 million, anchored by Wadi Degla Group. Glint Fund II is led by Tarek Aboualam and Youssef Helmy Habib, and will empower Egyptian entrepreneurs with investment opportunities in the early stages, with tickets ranging from US$250,000 to US$500,000. It will focus on supporting startups through its proprietary venture studio model.
“Glint’s second fund represents an important step to further develop our ecosystem designed to support Egyptian tech-based startups looking to penetrate the regional and international markets,” said Aboualam.
“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 as well as continue working with our returning investors.”
