Eitesal to launch venture capital fund for Egypt entrepreneurs, startups

Egypt’s non-government organization Eitesal is planning to launch a venture capital fund run by an under-construction innovation complex in Borg El Arab Technology Park.

At value of 15 million Egyptian pounds ($829,680), the fund is designated to support entrepreneurs and startups in Egypt, said Eitesal’s managing director Mohamed Shedeed on Thursday.

Borg El Arab Technology Park is located 35 minutes from Egypt’s second largest city Alexandria, with a total area of 199 million metres square.