Latest news with #Nclude
Egypt Today
23-05-2025
- Business
- Egypt Today
Banque Misr supports the Nclude Innovation Fund LP ('Nclude') in the transition of its management to DPI Venture Capital
Banque Misr was the anchor investor in launching the Nclude Fund in 2022, with the goal of supporting and developing early-stage fintech companies and unleashing their full potential, in line with its broader strategy to transform its services digitally to enable financial inclusion, drive growth and deliver higher returns. DPI Venture Capital was launched by Development Partners International to provide investors access to pioneering, early stage, growth-orientated technology businesses across the Middle East and Africa. The Nclude Fund, with $105 million in assets under management and a target size of $150 million, is the largest fintech-focused fund in Africa. Since its establishment in March 2022, Nclude has invested over $42.5 million across 12 transactions including companies such as Paymob, Khazna, Flapkap, and Connect Money. Launched with the support of the Central Bank of Egypt, Nclude is backed by LPs from Egypt's largest national banks including Banque Misr, National Bank of Egypt, and Banque du Caire and joined by financial services focused LPs e-Finance Investment Group, EBC, and Mastercard. Nclude has the ability to invest up to 30% of its commitments into deals in the wider Middle East and Africa region, to help such companies expand into Egypt, further expanding Egypt's position as a regional fintech hub. Hisham Okasha, Banque Misr CEO: 'The establishment of Nclude Fund was a key milestone in implementing our strategy to support the venture capital space. We believe that integrating these companies in our ecosystem and unlocking obvious synergies will take them to the next level of growth. We will continue to support Fintech businesses by providing financial, technical and digital solutions through our direct investment arm, private equity funds or accelerator programs in order to drive better experiences for our customers and greater value for the Egyptian economy.' Ahmed Sobhy, Banque Misr CIO: 'We are excited to partner with a prominent player like DPI to further cement our interest in growing digital and innovation led businesses and transforming them into leading institutions in their respective fields. We are confident that DPI will utilize its solid track record in Africa to existing investments in the Nclude Fund as well as new investments.'
Economic Key
23-05-2025
- Business
- Economic Key
Banque Misr Backs the Transition of Nclude Innovation Fund Management to DPI Venture Capital
Banque Misr was the anchor investor inlaunching the Nclude Fund in 2022, with the goal of supporting and developing early-stage fintech companies and unleashing their full potential, in line with its broader strategy to transform its services digitally to enable financial inclusion, drive growth and deliver higher returns. DPI Venture Capital was launched by Development Partners International to provide investors access to pioneering, early stage, growth-orientated technology businesses across the Middle East and Africa. The Nclude Fund, with $105 million in assets under management and a target size of $150 million, is the largest fintech-focused fund in Africa. Since its establishment in March 2022, Nclude has invested over $42.5 million across 12 transactions including companies such as Paymob, Khazna, Flapkap, and Connect Money. Launched with the support of the Central Bank of Egypt, Nclude is backed by LPs from Egypt's largest national banks including Banque Misr, National Bank of Egypt, and Banque du Caire and joined by financial services focused LPs e-Finance Investment Group, EBC, and Mastercard. Nclude has the ability to invest up to 30% of its commitments into deals in the wider Middle East and Africa region, to help such companies expand into Egypt, further expanding Egypt's position as a regional fintech hub. Hisham Okasha, Banque Misr CEO: 'The establishment of Nclude Fund was a key milestone in implementing our strategy to support the venture capital space. We believe that integrating these companies in our ecosystem and unlocking obvious synergies will take them to the next level of growth. We will continue to support Fintech businesses by providing financial, technical and digital solutions through our direct investment arm, private equity funds or accelerator programs in order to drive better experiences for our customers and greater value for the Egyptian economy.' Ahmed Sobhy, Banque Misr CIO: 'We are excited to partner with a prominent player like DPI to further cement our interest in growing digital and innovation led businesses and transforming them into leading institutions in their respective fields. We are confident that DPI will utilize its solid track record in Africa to existing investments in the Nclude Fund as well as new investments.' تم نسخ الرابط
Zawya
18-04-2025
- Business
- Zawya
DPI acquires Egypt's fintech fund Nclude
Cairo – UK-based VC firm Development Partners International (DPI) has acquired Nclude, an Egypt-based fintech fund by Global Ventures, according to a press release. Following the transaction, DPI took over the investment advisory responsibilities of the fund, which is the largest fintech-focused fund in Africa. The launch of DPI Venture Capital and the completion of the Nclude transaction anchors DPI's position as the premier Africa-focused private investment adviser. DPI has invested around $850 million in Egypt in the last decade and has seen the power of digitization via portfolio companies such as MNT Halan and Kazyon. Runa Alam, DPI Co-Founder and CEO, said: 'The platform provides our limited partners with the opportunity to invest in Africa's most exciting companies from their very beginning.' 'The completion of the Nclude transaction is an opportunity to build on the success of our previous investments in technology-led companies and will empower our investors to add exposure to highly innovative growth-oriented businesses,' Alam mentioned. Founded in March 2022, Nclude has invested over $28 million across nine transactions, including companies such as Paymob, Khazna, Flapkap, and Connect Money. Source: Mubasher
Wamda
16-04-2025
- Business
- Wamda
DPI acquires Egypt's fintech fund Nclude, launches Africa-focused VC arm
UK-based VC firm Development Partners International (DPI), an Africa-focused private equity firm, has taken over management of Nclude, an Egypt-based fintech fund by Global Ventures. Founded in 2022. Nclude announced a close of $110 million in September 2022, anchored by Banque Misr, and says it has invested $28 million in nine startups to date, including Partment, Khazna, and Paymob. DPI will provide investment advisory services to the fund through a dedicated team in Egypt. DPI has invested nearly $850 million in Egypt in the last decade and has seen the power of digitisation through portfolio companies such as MNT Halan and Kazyon. Press release: Development Partners International LLP ('DPI') is announcing the launch of DPI Venture Capital, which will target investments in early-stage, growth-orientated technology businesses across Africa. DPI has identified a unique opportunity to support early-stage companies and expand its strategy of investing in companies that positively impact the growing middle class in Africa. DPI has an eighteen-year track record of supporting growing innovation-led businesses, and its existing portfolio is embracing digitisation to improve access to a range of goods and services for Africa's growing population. DPI Venture Capital will be supported by the firm's reach in over 43 African countries and its investments across nearly a dozen sectors, including technology-driven businesses. The launch coincides with the completion of a fund restructuring transaction by which DPI commenced advising the Nclude Innovation Fund LP ('Nclude'), a leading fintech fund in Egypt. With the completion of that transaction DPI has taken over the investment advisory responsibilities of the Fund which is the largest fintech-focused fund in Africa. Since its establishment in March 2022, Nclude has invested over $28 million across nine transactions, including companies such as Paymob, Khazna, Flapkap, and Connect Money. Nclude is backed by LPs from Egypt's largest national banks, including Banque Misr, National Bank of Egypt, and Banque du Caire and joined by financial services-focused LPs e-Finance Investment Group, EBC, and Mastercard. Nclude was launched with the support of the Central Bank of Egypt. Nclude has the ability to invest up to 30% of its commitments into deals in the wider Middle East and Africa region to help such companies expand into Egypt. Egypt is a priority market for DPI. The organisation has invested nearly $850 million in Egypt in the last decade and has seen the power of digitisation via portfolio companies such as MNT Halan and Kazyon. With DPI becoming the investment adviser of Nclude, the firm will now advise the entirety of the Fund's US$105 million of assets under management. DPI is striving to ensure that the fund contributes towards building a thriving FinTech ecosystem in Egypt and increasing financial inclusion in the country. The launch of DPI Venture Capital and the completion of the Nclude transaction cement DPI's position as the premier Africa-focused private investment adviser and advance the firm's ambitions to provide clients with a range of opportunities to impactfully invest in Africa. DPI Venture Capital is being led by Managing Partner Ashley Lewis and includes an experienced team of venture capital professionals, including Mohamed Aladdin, who has joined the team as a General Partner. Runa Alam, DPI Co-Founder and CEO, said, 'By establishing DPI Venture Capital, DPI has fulfilled its long-standing ambition to provide investors with a range of investment strategies in Africa. The platform provides our limited partners with the opportunity to invest in Africa's most exciting companies from their very beginning. The completion of the Nclude transaction is an opportunity to build on the success of our previous investments in technology-led companies and will empower our investors to add exposure to highly innovative growth-orientated businesses.' Ashley Lewis, Managing Partner at DPI Venture Capital, said: 'The African venture capital ecosystem is still underpenetrated and there is a fantastic opportunity for Africa-focused fund sponsors to make a significant impact on the ecosystem. DPI Venture Capital is excited to welcome the Nclude team, portfolio companies, and LPs to DPI and to expand on their experience and close relationships with Egypt's leading investors and tech visionaries.'
Zawya
15-04-2025
- Business
- Zawya
Development Partners International launches DPI Venture Capital
DPI Venture Capital will provide investors access to pioneering, early stage, growth-orientated technology businesses across the Middle East and Africa. As part of the launch, DPI has completed a fund restructuring transaction to provide investment advice to the Nclude Fund, an established venture capital fund with $105 million in assets under management. DPI, through its Venture Capital team, will provide investment advisory services to the Nclude Fund, including its existing investments, and will be responsible for providing investment advisory services regarding further capital deployment. Ashley Lewis, Managing Partner and Head of DPI Venture Capital, along with a team based in Egypt, including Mohamed Aladdin, a General Partner, will be managing the DPI Venture Capital Platform and the Nclude Fund. London and Cairo – Development Partners International LLP ('DPI') is announcing the launch of DPI Venture Capital which will target investments in early stage, growth-orientated technology businesses across Africa. DPI has identified a unique opportunity to support early-stage companies and expand its strategy of investing in companies that positively impact the growing middle class in Africa. DPI has an eighteen-year track record of supporting growing innovation-led businesses, and its existing portfolio is embracing digitisation to improve access to a range of goods and services for Africa's growing population. DPI Venture Capital will be supported by the firm's reach in over 43 African countries and its investments across nearly a dozen sectors, including technology driven businesses. The launch coincides with the completion of a fund restructuring transaction by which DPI commenced advising the Nclude Innovation Fund LP ('Nclude'), a leading fintech fund in Egypt. With the completion of that transaction DPI has taken over the investment advisory responsibilities of the Fund which is the largest fintech focused fund in Africa. Since its establishment in March 2022, Nclude has invested over $28 million across nine transactions including companies such as Paymob, Khazna, Flapkap, and Connect Money. Nclude is backed by LPs from Egypt's largest national banks including Banque Misr, National Bank of Egypt, and Banque du Caire and joined by financial services focused LPs e-Finance Investment Group, EBC, and Mastercard. Nclude was launched with the support of the Central Bank of Egypt. Nclude has the ability to invest up to 30% of its commitments into deals in the wider Middle East and Africa region, to help such companies expand into Egypt. Egypt is a priority market for DPI. The organisation has invested nearly $850 million in Egypt in the last decade and has seen the power of digitisation via portfolio companies such as MNT-Halan and Kazyon. With DPI becoming the investment adviser of Nclude, the firm will now advise the entirety of the Fund's US$105 million of assets under management. DPI is striving to ensure that the fund contributes towards building a thriving FinTech ecosystem in Egypt and increase financial inclusion in the country. The launch of DPI Venture Capital and the completion of the Nclude transaction cements DPI's position as the premier Africa focused private investment adviser and advances the firm's ambitions to provide clients with a range of opportunities to impactfully invest in Africa. DPI Venture Capital is being led by Managing Partner Ashley Lewis and includes an experienced team of venture capital professionals including Mohamed Aladdin who has joined the team as a General Partner. Runa Alam, DPI Co-Founder and CEO said: 'By establishing DPI Venture Capital, DPI has fulfilled its long-standing ambition to provide investors with a range of investment strategies in Africa. The platform provides our limited partners with the opportunity to invest in Africa's most exciting companies from their very beginning. The completion of the Nclude transaction is an opportunity to build on the success of our previous investments in technology led companies and will empower our investors to add exposure to highly innovative growth-orientated businesses.' Ashley Lewis, Managing Partner at DPI Venture Capital said: 'The African venture capital ecosystem is still underpenetrated and there is a fantastic opportunity for Africa focused fund sponsors to make a significant impact on the ecosystem. DPI Venture Capital is excited to welcome the Nclude team, portfolio companies, and LPs to DPI and to expand on their experience and close relationships with Egypt's leading investors and tech visionaries.' About DPI DPI is an Africa focused, multi-strategy private investment firm with over US$3 billion in assets under management and co-investments across three funds, targeting high growth, impact-driven, and innovation-led companies. Since DPI was founded in 2007, its ADP funds have completed 33 investments and many exits across Africa. As a signatory to the UN Principles for Responsible Investment (PRI) and the Operating Principles for Impact Management, DPI promotes high ESG and Impact standards and seeks to contribute to the UN Sustainable Development Goals. About Nclude Nclude is the region's first fintech innovation engine and the largest fintech focused venture capital platform in Africa. Partnering with Egypt's leading banks and financial system focused LPs, the firm's founder-centric strategy invests all the way from Seed funding to Series C, focused on innovative fintech businesses that help foster financial inclusion in Egypt and beyond. Media Contacts DPI Edelman Smithfield Joe Carton, Alfie Tisdall E: dpi@
