Sultan Ventures purchases Acasia Group to strengthen its presence in the MENA region

Sultan Ventures, a U.S.-based venture capital firm, has acquired Egypt’s angel investment syndicate and incubator, Acasia Group, for an undisclosed amount. Acasia Group, originally founded in 2011 as Cairo Angels, has grown into a key player in supporting Egyptian and regional entrepreneurs through its multi-incubator model and angel investment syndicate.

Founded in 2009, Sultan Ventures specializes in early-stage investments, innovation programs, and building startup ecosystems. The acquisition is set to broaden Sultan Ventures’ presence in the Middle East and Africa (MEA) region, allowing them to bring their expertise in venture development and startup acceleration to a new market.

Notably, Acasia Ventures, a separate entity, is not part of this deal. Earlier this year, a separation agreement was reached, leaving Acasia Ventures fully owned by Aly El Shalakany, with both Biola Alabi and El Shalakany serving as general partners.

Acasia Group has played a pivotal role in the startup ecosystem in the MEA region, providing a wide range of programs, incubators, and competitions, often in partnership with major organizations like EG Bank, the World Bank, and DAR. This acquisition by Sultan Ventures is expected to further boost Acasia’s ability to scale, enabling it to make a greater impact in the region.

“This marks a new chapter for Acasia,” said Hossam Allam, Chairman of Acasia Group. “What started as Cairo Angels has evolved into a regional leader across the venture ecosystem. Partnering with Sultan Ventures allows us to scale even faster and address some of the region’s most pressing challenges, especially in fostering early-stage ventures and commercializing deep-tech innovations.”

For Sultan Ventures, this acquisition aligns with their global expansion strategy. Over the past 15 years, they have helped accelerate numerous startups through their renowned XLR8® programs. Known for transforming innovative ideas into successful businesses, Sultan Ventures now aims to extend its impact to the Middle East and Africa.

Omar Sultan, Managing Partner of Sultan Ventures, emphasized the synergy between the two firms: “Combining our experience in venture acceleration with Acasia’s deep local knowledge creates a powerful partnership. Acasia has built a strong reputation for empowering startups in emerging markets, and this acquisition creates a bridge between the U.S. and MENA region, opening new opportunities for thousands of founders.”