News & Events

  • News

    21 Jan, 2011

    New Egyptian Venture Firm to Seed Tech Cos. in Middle East



    In another sign technology entrepreneurship is beginning to take root in the Middle East, new venture capital firm Sawari Ventures has launched its first fund and seeded two companies.  The Cairo-based firm has invested undisclosed amounts in Egyptian start-ups Vimov LLC, which makes the popular mobile application WeatherHD, and Alzwad Mobile LLC, the mobile platform company that's behind portal me3almobile.com.  "Right now we're focusing on pure, indigenous companies. We want to grow them here," said Hany Al- Sonbaty, managing partner and co-founder of Sawari Ventures. "There's a new mindset for … read more