TechInAfrica – A new venture capital network, Med Angels, is officially launched to tackle the gap in seed funding in the Mediterranean region. The new angel investor was launched on Monday, September 30th in Alexandria, Egypt and founded by Tarek El-Kady. El Kady is an Egyptian investor as well as the founder of Alex Angels and Techne Summit.
According to El Kady, it is the first Mediterranean-wide angel investor network. It aims at bringing together multi-country angel networks, regional enablers, funds, and diaspora investors from Egypt, Greece, France, Lebanon, Spain, Morocco, and Tunisia, among others.
Furthermore, it also aims at coordinating with various funds, including from the European Union (EU), Africa, and the Middle East and North Africa regions while at the same time helping other angel networks in the region to gain more members and close more deals. It added that it also wished to launch an accelerator program.
On his statement on Monday, October 1st, El Kady said that the presence of Med Angels is important to bridge the gap in seed funding in the countries across the Mediterranean region.
El Kady added, Building a network of trust that promotes cross border investment through syndication is very much needed and will strongly connect Africa with Europe and the Middle East,”
The launch event of Med Angels was attended by several presidents and executives from angel networks in countries like Egypt, Tunisia, France, and Spain. They included Carthage Business Angels President, Nazeh Ben Ammar; Alex Angels’ Co-founder, Loay El-Shawarby; Sophia Business Angels’ President, Marcel Dridje; Business Angels Network Catalunya’s President, Albert Colome; and DeInvesteerders Club’s Managing Partner, Keith Wallace.