Runa Alam's Dpi Takes Over 105 Million Egypt-based Fintech Fund

DPI acquires Egypt-based fintech fund Nclude, managing 105 million, strengthening its African presence and enhancing its fintech investment portfolio.

Nclude has invested over 28 million in nine deals since its 2022 launch, including backing major fintech companies like Paymob and Khazna.

With DPI now managing Ncludes assets, the firm aims to foster Egypts fintech ecosystem and drive financial inclusion across the country.

American venture capitalist Runa Alam has led Africa-focused venture capital firm Development Partners International DPI to acquire Nclude, an Egypt-based fintech venture capital fund managing 105 million in assets. This acquisition is a strategic move that strengthens DPI's presence across the African continent.

Founded in March 2022, Nclude has already invested over 28 million in nine deals, backing companies like Paymob, Khazna, Flapkap, and Connect Money. With this latest acquisition and the launch of DPI Venture Capital, DPI consolidates its position as a leading private investment advisor focused on Africa.

Ncludes investors include some of Egypts largest national banks, such as Banque Misr, National Bank of Egypt, and Banque du Caire, along with financial services-focused investors like e-Finance Investment Group, EBC, and Mastercard. It was launched with support from the Central Bank of Egypt and has the flexibility to invest up to 30 percent of its commitments in the wider Middle East and Africa region, particularly to support companies expanding into Egypt.

This acquisition, led by Runa Alam, co-founder and CEO of DPI, underscores Egypt's increasing significance for the firm. Over the past decade, DPI has invested nearly 850 million in Egypt, with notable portfolio companies like MNT Halan, Egypt's largest and fastest-growing lender, and Kazyon, the country's leading hard-discount supermarket chain.

Now serving as the investment advisor for Nclude, DPI will oversee the funds 105 million in assets. The firm aims to help build a stronger fintech ecosystem in Egypt and foster greater financial inclusion. With the launch of DPI Venture Capital and the successful completion of the Nclude deal, DPI solidifies its position as a leading private investment advisor in Africa, enhancing its mission to provide impactful investment opportunities across the continent. This initiative is led by Managing Partner Ashley Lewis, supported by a team of experienced venture capital professionals, including General Partner Mohamed Aladdin.