Investment Portfolio

Fawry

Founded in 2009, Fawry is Egypt’s first and largest electronic payment service network.

Fawry offers a variety of services with the goal of making everyday tasks easier and faster for people in Egypt. Key services offered include mobile top-up, bill payment and collection, e-wallets, B2B cash management, local remittances, and Super Fawry. The EAEF was attracted to Fawry because of the company’s commitment to improving the quality of life of people at all levels of society.

Industry

Financial Services

Year Invested

July 2015

Investment

USD 20 mn

20

million customers

1.5

million transactions/day

100+

different billing services

65,000

points of sale in more than 300 cities and suburbs

EGP 16 bn

collected through Fawry points of sale in 2016

Our Value Added

In 2015, the EAEF encouraged and partnered with international investors, including some first-time investors in Egypt, to invest in Fawry. The investor consortium included Helios Investment Partners and the MENA Long-Term Value Fund. The EAEF, in partnership with the LCP team, plays an active role on the board of Fawry and support the company’s operations by introducing international best practices.

Sarwa Capital

Sarwa Capital is a pioneer of consumer and structured finance solutions in Egypt, offering a range of corporate- and consumer-focused products and services under its own brands in addition to producing white-labeled solutions for major Egyptian corporations.

Sarwa Capital offers a variety of consumer- and corporate-focused finance solutions including mortgages, leasing, insurance brokerage, asset management, payment services, debt securitization, and memberships finance. Through its subsidiary company Contact Cars, it is the country’s largest provider of consumer car loans. What makes Sarwa Capital a truly stand-out company is its efforts to reach the unbanked and low-income populations in Egypt with its services.

Industry

Financial Services

Year Invested

November 2015

Investment

USD 56 mn

EGP 15 bn

in total financing

+100,000

clients financed

EGP 10 bn

in securitization bonds

+30%

5-year operating income CAGR

700

group employees

Our Value Added

The EAEF has supported Sarwa Captial since 2015 by expanding the company’s network of potential clientele and investment opportunities. We have also provided training and technical support by instituting corporate governance and international best practices and assisting management with key hires.

Smart Care

SmartCare is a medical services company that offers customized and discounted insurance plans for SMEs and individuals in Egypt

SmartCare understands the key role that technology can play in increasing the accessibility and affordability of healthcare services. The company offers a variety of insurance plans and services including health management organization plans, third-party administration, and self-funded schemes. A small company now, SmartCare is committed to growing its business in order to increase its reach and improve quality of life for as many people as possible.

Industry

Healthcare

Year Invested

May 2016

Investment

USD 1.2 mn

100

corporate clients

25,000

individuals served

2,200

healthcare providers and access to 1,000 doctors

95%

client retention rate

33%

increase in clients in 2016

Our Value Added

As SmartCare’s first international institutional investor, the EAEF is supporting the company’s mission of expansion by helping it to develop new products and expand its client base. Additionally, we’ve been working to cultivate entrepreneurial talent in the company and facilitate knowledge transfer.

Algebra Ventures

Algebra Ventures team of experienced investors provides series-A money and on-the-ground support to Egyptian entrepreneurs in the tech industry.

Founded by a team with more than 65 years of combined experience in VC, investing, technology, and management, Algebra Ventures is making smart investments in Egypt’s future. The company is committed to exploring and investing in a diverse array of companies and sectors. Algebra Ventures also provides technical support and training to help companies navigate challenging operating environments and accelerate growth.

Industry

Venture Capital

Year Invested

July 2015

Investment

USD 10 mn

USD 40 mn

to invest in companies

USD 500 k

to USD 4 million investment ticket size

USD 1.5 mn

investment in El Menus at USD 6 million post-money valuation

USD 750 k

investment in GoodsMart at a USD 3.2 million post-money valuation

Our Value Added

The EAEF supported a team of local tech investors in forming Algebra Ventures and enabled investors to reach financial close with key development financial institutions, including the European Bank for Reconstruction and Development, the International Financial Corporation, and Cisco. In addition to helping Algebra Ventures to reach a viable size, the EAEF works closely with its general partners to support portfolio companies, facilitate knowledge transfer from the US startup ecosystem, and strengthen the VC landscape in Egypt.

TCV

TCV is a private equity firm that invests in and supports Egyptian SMEs in a variety of sectors.

TCV is a new Egyptian investment firm managing the TCV1 Fund. TCV identifies high-potential investment targets and provides them with the financing and operational support needed to facilitate growth. In every company in which it invests, TVC seeks to strengthen management, enhance productivity, and promote strong, ethical corporate governance.

Industry

Private Equity

Year Invested

March 2017

Investment

USD 10 mn

USD 15 mn

to invest in companies

USD 2-5 mn

range investment ticket size

Our Value Added

The EAEF will help to form a new local SME fund by providing seed funding and organizing a capable and professional investment team. Additionally, the EAEF is playing a critical role in supporting first time fund managers and developing Egypt’s nascent private equity and venture capital investment landscape to welcome future investors.

Flat 6 Labs (FAC)

Flat 6 Labs (FAC) is the leading startup accelerator in the Middle East.

Flat6Labs is a leading regional startup accelerator and seed investor that fosters and invests in bright and passionate entrepreneurs with cutting-edge ideas. It provides seed funding, strategic mentorship, a creative workspace, a multitude of perks, entrepreneurship-focused business training, and direct support for its startups through its expansive network of partners and numerous entrepreneurial activities. Fulfilling its mission of creating more entrepreneurial hubs in vibrant ecosystems across the MENA region, Flat6Labs is currently operating in Cairo, Jeddah, Abu Dhabi, Beirut and Tunis with plans to expand to several other locations across the region in the upcoming few years.

Industry

Venture Capital

Year Invested

2017

Investment

EGP 10 mn

Orchidia Pharmaceutical Industries

A leading Egyptian ophthalmic generic medicine manufacturer and one of the fastest growing pharmaceutical companies in Egypt

Orchidia plays an important role in the Egyptian ophthalmic market by providing high quality affordable medicine to the Egyptian population. The company is an outstanding model specialized in the production of ophthalmic pharmaceutical products, and is one of the fastest-growing companies in Egypt's ophthalmology market. Orchidia beholds a rich portfolio of eye care products, including a variety of anti-infection and anti-inflammatory eye drops, artificial tears and lubricants, lens care products and eye tonics and eye vitamins products.

Industry

Healthcare

Year Invested

2017

Investment

n/a