US VC Firm Sultan Ventures Acquires Egypt’s Acasia Group

STARTUP VENTURE CAPITALSeptember 23, 2024 at 12:46 PM UTC

TLDR

Sultan Ventures acquires Acasia Group, a leading angel investment syndicate in the Middle East and Africa.
Acasia Group, formerly known as Cairo Angels, is renowned for early-stage investments and impact-driven programs for startups.
The acquisition excludes Acasia Ventures, maintaining its independence with key leadership intact.

US-based venture capital firm Sultan Ventures has acquired Egyptian angel investment syndicate and incubator Acasia Group for an undisclosed amount.

Founded in 2011 as Cairo Angels, Acasia Group became one of the most active early-stage investors in the Middle East and Africa. Acasia's portfolio includes angel investments and impact-driven programs for startups.

The acquisition includes Acasia Impact and Acasia Angels but excludes Acasia Ventures, which will remain independent under the leadership of Aly El Shalakany and Biola Alabi. Sultan Ventures, founded in 2009, specializes in early-stage investments and startup ecosystem building. The acquisition expands Sultan Ventures’ presence in the Middle East and Africa.

Key Takeaways

Sultan Ventures’ acquisition of Acasia Group marks a strategic expansion into the Middle East and Africa, leveraging Acasia’s deep-rooted presence in these regions. The partnership enhances support for early-stage startups, offering a bridge between the US and MENA markets. Acasia’s reputation in empowering entrepreneurs will complement Sultan Ventures' venture acceleration expertise, providing increased opportunities for founders in emerging markets to scale innovative businesses.

Venture Capital

Acasia Group

Egypt

Sultan Ventures

Acquisition