By Valentine Alexander 
Development Partners International (DPI) has just launched DPI Venture Capital, a new branch that will invest in early-stage and fast-growing tech companies across Africa. DPI, which has nearly two decades of experience backing innovative businesses on the continent, believes there’s a big opportunity to support young companies and help Africa’s middle class grow. Their new venture capital arm will build on DPI’s strong presence across 43 African countries and experience in many sectors, especially tech-driven businesses. DPI has now taken over the management of Nclude Innovation Fund LP (“Nclude”), Egypt’s largest fintech-focused fund. Since it was set up in 2022, Nclude has already invested over $28 million into nine companies, including popular names like Paymob, Khazna, Flapkap, and Connect Money.
Nclude is supported by Egypt’s biggest banks — Banque Misr, National Bank of Egypt, and Banque du Caire along with major financial players like Mastercard. With this new partnership, DPI will advise on all of Nclude’s $105 million of assets, making them a bigger player in supporting African fintech and tech startups. They also have the flexibility to invest up to 30% of Nclude’s funds in companies beyond Egypt, across the Middle East and Africa.
Over the past 10 years, DPI has invested almost $850 million into Egypt, supporting digital growth through companies like MNT-Halan and Kazyon. With the Nclude deal, DPI is aiming to boost Egypt’s fintech sector even further, helping more people access financial services and promoting digital innovation. Leading DPI Venture Capital is Ashley Lewis, who has gathered a team of experienced venture capital professionals, including Mohamed Aladdin, who has joined as a General Partner.
Runa Alam, DPI’s Co-Founder and CEO, shared her excitement, saying,
“By creating DPI Venture Capital, we’re giving our investors even more ways to invest in Africa. This new platform lets them back the continent’s most exciting startups from the very beginning. Taking over Nclude is also a big step forward in helping tech-led companies grow and succeed.”
Ashley Lewis, Managing Partner at DPI Venture Capital, added,
“Africa’s venture capital scene still has a lot of room to grow. We’re excited to work with the Nclude team and connect even more closely with Egypt’s top tech investors and entrepreneurs.”
By launching DPI Venture Capital and partnering with Nclude, DPI is strengthening its position as one of Africa’s leading private investment advisers, giving investors new and powerful ways to support innovation, technology, and growth across the continent.
Leave feedback about this