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THE #CairoScene IMPACT LIST 2021 ft BASIL MOFTAH [Global Ventures] | For Being a Driving Force Behind Egypt's Entrepreneurial Boom in Impactful Tech

To see the full Impact List download the #SceneNow app (https://linktr.ee/SceneNow)

The boom in Egypt's entrepreneurial ecosystem over the last few years has been well-documented, and 2021 in particular has been a milestone year for homegrown startups. elmenus has continued its remarkable rise, gaining another multi-million investment led by a US-based hedge fund, while celebrity shout-out app, Minly, also raised an impressive $3.6 million and acquired a UAE-based rival. Elsewhere, trailblazing fintech, Paymob, scored $18.5 million in a year that has seen it strike unique partnerships from everyone from Uber to the American University in Cairo, each looking to apply the startup's innovative financial solutions in a variety of ways.

There are any number of reasons for this boom, chief amongst them the incredible pool of talent that is being cultivated in Egypt. Yet, the saying ‘it takes a village’ very much applies in this case, and there's one name that has been a common factor between these homegrown success stories: Global Ventures. Under the leadership of Egyptian venture capital veteran, Basil Moftah, and his partner, Noor Sweid, who steer the ship as General Partners, Global Ventures has funded and supported some of Egypt’s most innovative startups.

An AUC graduate who landed in the world of venture capital almost by accident while working in the US, Moftah doesn’t only want to be part of this Egyptian renaissance. He wants to drive and fuel it by offering capital, mentorship and support to the entrepreneurs and startups utilising tech for real-world impact, whether is using innovation for financial inclusion or to streamline healthcare services.

Moftah feels he has a role to play in helping startups take that next big step and break out of Egypt and the Middle East - and a new $100 million fund that has been raised from Saudi, UAE and US firms means that there’s more to come in 2022.