Pioneering Venture Capital in Egypt

Algebra Ventures is the leading technology VC firm in Egypt. Our team has unique investment experience both locally and internationally, and has backed some of Egypt’s most successful technology startups.

We have seen technology transform our societies and impact how we communicate, decide and transact. We foresee technology being even more impactful in the future as a new generation of entrepreneurs build the market-leading companies of tomorrow.

With a $40M in initial funding, our VC fund is the largest in Egypt. We are supported by credible international investors including Egyptian American Enterprise Fund (EAEF), European Bank for Reconstruction and Development (EBRD), Cisco Investments and International Finance Corporation (IFC).

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Investing in Technology-Enabled Innovation

We invest in technology startups that leverage innovation to transform large markets.

We seek high-growth companies, led by passionate and capable teams, that have a unique value proposition, and that can generate significant economic returns.

We look for entrepreneurial teams that possess vision and insight as well as the execution skills needed to build scalable companies.

We are focused primarily on Series A and Series B rounds in Egypt although we do not exclude investments in earlier-stage startups or in other parts of the MENA region.

We prefer to meet startups early on and get to know the team (or lend a helping hand) as the opportunity is shaping up.

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Supporting future market leaders

We seek to be trusted partners for our entrepreneurs.

We provide capital, assist with strategy and operations, and help build star teams. We connect our startups with industry partners and regional / international investors to support growth and future exit.

We typically lead early investment rounds and support our companies all the way to exit. We structure our deals around alignment of incentives with entrepreneurs and other investors. We are active on the boards of companies we invest in and we understand that course corrections are part of a startup’s DNA. We are proud to have worked with exceptional entrepreneurs and to have shared with them unique learning experiences that are particularly relevant to our local operating environment.

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Areas of investment

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Core Technology

Products that leverage exceptional technical talent to develop globally competitive technology serving international markets.

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E-commerce

Innovative and clearly differentiated products and services that tap into the still young, high-potential e-commerce market in Egypt and the MENA region.

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Fin-Tech

Software and/or online services that disrupt the existing financial services market and address the untapped opportunity of providing new services to a population of largely unbanked customers.

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Industry Marketplaces

Online platforms that match supply and demand for services or products whether for b2b, b2c, or c2c (sharing) markets.

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Business Software and Platforms

Software and information networks that help enterprises and SMEs better manage their operations and/or collaborate with each other.

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Consumer Internet

Mobile and Internet consumer applications, information and entertainment platforms, and communication tools.

team

Tarek Assaad

Managing Partner

Tarek started his career as an engineer at Lucent Technologies then as a software developer for SAQQARA Systems, an internet startup in Silicon Valley. He later became General Manager of CID Consulting where he led the company’s high growth, helping it to become one of the leading local consulting firms in Egypt.
Apart from his role at Algebra Ventures, Tarek is Managing Partner at Ideavelopers where he has been managing $50m of VC investments since 2009, including some of Egypt’s most prominent technology startups. Tarek is a director of Smart Card Applications, Siwareand IdealRatings. In this role, he was also responsible for the investment in Fawry, the leading bill payment and presentment company in Egypt, which realized a $100m exit in 2015.
Tarek holds a B.Sc. in Electronics and Communication Engineering from Ain Shams University in Cairo and an MBA from Stanford Graduate School of Business.

Karim Hussein

Managing Partner

Karim is a technology veteran with deep experience in product and innovation management and rapid business growth and scaling – particularly in the healthcare and financial services markets. Karim has been an active investor and mentor to a number of technology businesses in Egypt and the US. He is founder and Chairman of D-Kimia Diagnostic Solutions developing fast, affordable, and accurate medical diagnostics using nano-technology and focused on controlling the Hepatitis C epidemic in Egypt and globally. Karim has served on the board of D-Kimia, Integreight, Shezlong.com, Prognos.ai, and Simplex Arabia CNC Solutions. He is also Chairman of the entrepreneurship committee of the Egyptian National Competitiveness Council, a mentor to high impact entrepreneurs through the Endeavor network, and a fellow of the Aspen Global Leadership Network.

Previously, Karim was SVP, Products and Engineering at WebMD, Inc., directing product management, technology strategy and engineering. Prior to WebMD, Karim was co-founder and CTO of Riskclick, Inc., a software firm specializing in commercial insurance applications. He also was a senior associate at Booz Allen & Hamilton where he was a member of the Global e-Commerce team.

Karim received his PhD in Information Systems from MIT and a dual BSc in Electrical and Computer Engineering from Carnegie Mellon University. He has over 40 publications and a patent for his work on distributed computing.

Ziad Mokhtar

Managing Partner

Ziad has been an active Venture Capital investor since 2010. He is a Founder and Managing Partner of Algebra Ventuers. He is also a Partner at Ideavelopers. He has invested in 13 different technology startups including fawry, vezeeta, siware, elmenus, and iqraaly.  

Before being a venture investor, he served as a Consultant at McKinsey & Company where he worked on topics related to economic development, healthcare reform, and education. Prior to McKinsey, he co-founded eSpace in 2000 and served as its Chief Executive Officer until 2006. While at eSpace, he led the development of the number one mobile salesforce solution in the region, and spearheaded eSpace’s international services business.

Ziad is a member of the boards directors of elmenus, Iqraaly, Siware, and Vezeeta.

Ziad holds an M.B.A. from Stanford Graduate School of Business and a Bachelor’s degree in Computer Science and Engineering from Alexandria University.

Omar Shazly

Investment Analyst

Omar joined Algebra Ventures in February 2017 as an Investment Analyst. He assists in investment analysis, selection, and execution.
Prior to joining the firm, Omar held positions at Gemini Holding, the Naguib Sawiris family office, where he assisted in analyzing potential investments and developing bankable business plans for existing assets. In parallel, he completed his credit analysis certification.
Omar holds a B.Sc. in Business Information Systems from Darmstadt University of Technology, Germany. During his studies, he completed internships in venture development at Rocket Internet in Berlin and in digital transformation at MS&C Management Consultants in Munich.

Farah Osman

Investment Associate

Farah joined Algebra Ventures in August 2016 as an Associate, where she assists in the research and selection of potential investments.
Prior to joining the firm, Farah held several positions in HC Securities and Investment Asset Management Department, where she was responsible for conducting thorough top down and bottom up analysis on Egyptian Equity market. She also recommended investment ideas to fund managers that result in stronger security selection and portfolio construction
Previously, Farah was a sell-side Analyst at CI-Capital, with a particular focus on Real Estate. She undertook detailed real estate market analysis in order to generate well-communicated research reports.
Farah is a CFA Charterholder and holds a BA in Business Administration and a minor in Economics from the American University in Cairo (AUC).

Our team has managed over 30 VC investments

Algebra Ventures is managed by three partners with strong investment and operational experience in Egypt and the U.S. Prior to Algebra, the partners have collectively invested in some of the most successful startups in Egypt today, managed over 30 venture capital and angel investments and realized some of the country’s most prominent technology exits, such as Fawry (exited at a $100m valuation).

Portfolio

Talent

Vacancies

  • Senior Associate

    The investment senior associate will work with experienced Partners on a breadth of VC activities that include deal flow generation, opportunity assessment, transaction execution, and portfolio support.

Email us at: people@algebraventures.com

Vacancies

Contact

We are located at 12 Saleh Ayoub St. 5th floor, Zamalek, Cairo, Egypt.

mail-icon info@algebraventures.com | funding@algebraventures.com

Senior Associate

The investment senior associate will work with experienced Partners on a breadth of VC activities that include deal flow generation, opportunity assessment, transaction execution, and portfolio support.

The position is well suited for candidates who enjoy meeting new startups, can quickly learn new sectors, have strong problem solving and analytical skills, have solid interpersonal skills, and good presentation and communication skills.

Previous startup, investment, or consulting experience is required. MBA is a plus.

Email us at: people@algebraventures.com

GoodsMart

GoodsMart is a premium household shopping app that improves the hectic grocery shopping process and transforms it into an effortless experience

 

Elmenus

Elmenus is Egypt’s #1 online food destination

 

Filkhedma

Filkhedma is a marketplace for quality home maintenance and improvement services including plumbing, carpentry, electricity, air conditioning, painting, home appliances and satellite dish.

 

Eventtus

Eventtus is an-all-in-one platform for events ticketing, event management and apps for events