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Modus Capital Tag

North African startups to benefit from new $75m investment fund

Modus Capital, a hybrid venture capital firm based out of New York and Cairo, has announced the launch of its first regional fund, which has raised US$75 million to invest in growth-stage companies across the Middle East and North Africa (MENA). The Modus MENA Venture Fund 1 (MMVFI) is targeting a range of industries and structured to invest across asset stages from early to lower-mid market.  Modus Capital said the fund will invest in companies that have strong positive social impact as a by-product, including those with a focus on women and financial inclusion, health, education, and battling unemployment. The first investment from the fund was made in...