• US-based VC firm Sultan Ventures has acquired the Egyptian angel investment syndicate and incubator, Acasia Group, for an unknown value.
• Founded in 2011 as Cairo Angels, Acasia Group is a multi-incubator operator and a regional angel investment syndicate that empowers Egyptian and regional entrepreneurs.
• Founded in 2009, Sultan Ventures is a VC firm specialising in early-stage investment, innovation programmes, and startup ecosystem building.
• The acquisition will expand  Sultan Ventures’ footprint in the MEA region.
• Acasia Ventures will not be part of the acquisition, as a few months ago, the shareholders of Acasia Ventures and Acasia Group entered into a separation agreement whereby Acasia Ventures would remain 100% owned by Aly El Shalakany and led by Biola Alabi and Aly El Shalakany as the general partners. 

Press release:

In a move poised to reshape the entrepreneurial landscape across the Middle East and Africa, Acasia Group, a leading force in the startup ecosystem, proudly announces its acquisition by Sultan Ventures, a prominent U.S.-based venture firm renowned for its cutting-edge approach to venture building, innovation, and investment. 

Acasia, originally founded in 2011 as Cairo Angels, evolved from a leading angel syndicate into a provider of diverse startup ecosystem programmes, incubators and startup competitions, including collaborations with high-profile partners such as EG Bank, the World Bank, and DAR. Acasia's pivotal role in shaping the startup ecosystem has cemented its position as a key player in driving innovation and entrepreneurship across the Middle East and Africa. 

“This acquisition marks an exciting new chapter for Acasia,” said Hossam Allam, Chairman of Acasia Group. “What began fourteen years ago as a grassroots initiative under Cairo Angels has grown into a regional leader, operating across every aspect of the venture continuum in the Middle East and Africa. The acquisition by Sultan Ventures enables Acasia to scale faster and tackle the region’s biggest challenges, amplifying impact and scaling early-stage ventures and deep-tech commercialisation.” 

With this acquisition, Sultan Ventures asserts its commitment to global expansion, building on 15+ years of experience in venture development, fostering innovation, and supporting startup ecosystems. Through their XLR8® initiatives, including one of the top accelerators globally, Sultan Ventures has helped accelerate hundreds of U.S.-based startups, turning cutting-edge ideas into scalable businesses. Their work has garnered numerous accolades for transforming innovative ideas into successful, scalable ventures and will now extend its reach into the Middle East and Africa. 

“Sultan Ventures’ proven track record in venture acceleration combined with Acasia’s local experience creates a winning partnership designed to enhance ecosystem development,” said Omar Sultan, Managing Partner of Sultan Ventures. Adding that, “Acasia has built an enviable reputation for empowering startups and cultivating ecosystems in emerging markets. This acquisition creates a new U.S.-MENA bridge and opens a door for thousands of founders seeking to bring ideas to market.”