In a strategic move to broaden its global footprint, US-based venture capital firm Sultan Ventures has acquired Egypt’s Acasia Group. The acquisition, whose value remains undisclosed, aligns with Sultan Ventures’ specialization in early-stage investment, innovation programs, and start-up ecosystem development. “The Company will now extend its reach into the Middle East and Africa,” Sultan Ventures announced in a statement.
Founded in 2011 and previously known as Cairo Angels, Acasia Group has been a prominent multi-incubator operator and angel investment syndicate, with operations in Cairo, Dubai, and Lagos. Acasia has played a pivotal role in venture fund management, developing start-up ecosystems, and delivering incubation programs throughout the Middle East and Africa.
Sultan Ventures has a proven track record of accelerating hundreds of start-ups in the United States. Notable examples include Volta Charging, which champions innovation, sustainability, and accessibility by providing free electric vehicle charging stations, and Notion, known for its user-centric design, flexibility, and strong community support. Their expansion into the Middle Eastern and African markets is poised to be a game-changer for start-up founders.
Acasia Group has also supported various successful start-ups such as Swvl, a company redefining urban mobility with values of empowerment, community impact, and growth.
“This acquisition creates a new US-MENA bridge, and opens a door for thousands of founders seeking to bring ideas to market,” emphasized Sultan Ventures.
For start-ups in the region, this development signifies increased access to capital, mentorship, and global networks, which are critical for scaling businesses and fostering innovation. As the integration between Sultan Ventures and Acasia Group progresses, stakeholders from both sides are optimistic about the synergies and opportunities that this new alignment will bring.
This acquisition marks a significant milestone in the venture capital landscape, promising to enrich the start-up ecosystems in the Middle East and Africa with fresh opportunities and resources.