Egyptian venture capital firm Camel Ventures has launched a $16m fund to support the country's fintech start-ups. The firm's first investment vehicle, Camel Ventures for Investment I, will offer equity investments for early-stage start-ups, as well as venture debt in local currency for later-stage firms. The regulated fund is backed by local banks, family offices and financial institutions, and has already made 10 investments in areas such as Khazenly, Pharmacy Marts and klickit. The company said it seeks to form partnerships, rather than just acting as a capital provider, in order to help build the local ecosystem.

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