Sultan Ventures Acquires Acasia Group to Expand in MENA

US-based venture firm Sultan Ventures has acquired Egypt's Acasia Group, formerly known as Cairo Angels, to expand its presence in the Middle East and Africa (MENA). Founded in 2011, Acasia Group has supported entrepreneurs through startup incubators, competitions, and partnerships with organizations like EG Bank and the World Bank.^[1]  

Sultan Ventures, established in 2009, focuses on early-stage investments and startup ecosystem development. With this acquisition, the firm plans to extend its efforts in fostering innovation and supporting startups in the MENA region.

Acasia Ventures will not be included in the acquisition and will continue under separate ownership, led by Biola Alabi and Aly El Shalakany.