US-based venture capital firm Sultan Ventures has acquired Egypt’s Acasia Group, in a move that will expand its reach into Africa and the Middle East. The acquisition of undisclosed value is in tandem with the company’s plans to expand its global footprint.
Sultan Ventures boasts over 15 years of experience in venture development and startup ecosystem support. The US-based company’s initiatives have benefited several US-based startups by transforming budding ideas into scalable, thriving ventures.
Founded in 2011 and formerly called Cairo Angels, Acasia Group is a multi-incubator operator and an angel investment syndicate. With offices in Cairo, Dubai, and Lagos, Acasia consists of three distinct, yet interrelated businesses – Acasia Ventures, Acasia Impact, and Acasia Angels.
Hossam Allam, Chairman of Acasia Group, describes the acquisition as an exciting new chapter for Acasia that enables the company to scale faster and tackle Africa’s challenges. Allam also believes the acquisition will increase its impact by scaling early-stage ventures and deep-tech commercialization within the region.
To Omar Sultan, Managing Partner of Sultan Ventures, the firm’s acquisition is a winning partnership designed to enhance the ecosystem. In his words, “The acquisition creates a new US-MENA bridge and opens the door for thousands of founders seeking to bring their ideas to market.”
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