Development Partners International (DPI), a UK-based venture capital firm, has acquired Nclude, the Egypt-based fintech fund originally launched by Global Ventures.
With this move, DPI takes over the investment advisory duties of the continent’s largest fintech-focused fund—solidifying its status as a top private investment adviser for Africa.
The acquisition also marks the official launch of DPI Venture Capital, a strategic move to deepen DPI’s commitment to early-stage innovation across the continent.
“This platform provides our limited partners with the opportunity to invest in Africa’s most exciting companies from their very beginning,” said Runa Alam, Co-Founder and CEO of DPI.
Doubling Down on Africa’s Digital Economy
DPI isn’t new to Egypt or Africa’s tech scene. Over the past decade, the firm has invested $850 million in Egypt alone, backing digital leaders like MNT-Halan and Kazyon. The firm sees fintech as a major driver of growth and inclusion in emerging African markets.
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“The completion of the Nclude transaction is an opportunity to build on the success of our previous investments in technology-led companies and will empower our investors to add exposure to highly innovative growth-oriented businesses,” Alam added.
Launched in March 2022, Nclude has already invested $28 million across nine deals, with portfolio names like Paymob, Khazna, Flapkap, and Connect Money, some of the fastest-growing startups in Egypt’s fintech space.
By acquiring Nclude, DPI is making a bold bet on Africa’s future as a fintech powerhouse, and giving its investors direct access to the continent’s next wave of digital disruptors.
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