Cairo – Sharikat Mubasher: Egypt-based venture capital (VC) firm Sawari Ventures intends to launch a $30 million 2 funds early next year to back Egyptian fintech startups.

Hani Al Sanbati, Sawari’s CEO and co-founder, says that one of these funds will operate in USD and the other will be in local currency, according to Asharq Business.

Founded in 2010 by Ahmed Alfi, Hany Al Sonbaty, and Wael Amin, Sawari Ventures is a Mena-focused VC firm, backing over 30 companies, including Swvl, MoneyFellows, Instabug, Si-Ware, and Elves.

The CEO further added that Sawari targets to achieve a $200 million investment volume for the two funds within a period of 3-4 years.