SANAD Fund

The SANAD Fund is a Luxembourg-based investment fund that supports micro, small, and medium enterprises (MSMEs) across the Middle East, North Africa, and Sub-Saharan Africa through tailored financing via local financial institution partners. With $557 million in assets under management and over $1 billion in cumulative investments, it focuses on expanding financial inclusion for underserved entrepreneurs. The fund also invests in innovative fintechs through equity sub-funds and provides advisory and capacity building services. SANAD has participated in four funding rounds totaling $38.6 million between June 2021 and April 2025, primarily at the Series A stage (three rounds) and one venture round. Its investments target e-commerce and retail (three rounds) and fintech (one round) in Egypt (two rounds), Côte d'Ivoire (one), and Kenya (one). Backed companies include Cartona (Egypt, e-commerce), Djamo (Côte d'Ivoire, fintech), and Sky (Kenya, e-commerce). Co-investors in these rounds include Silicon Badia, Janngo, Oikocredit, Enza Capital, Y Combinator, Partech, Algebra Ventures, Kepple Africa Ventures, Global Ventures, Sunny Side Ventures, Arab Bank, Uncovered Fund, Aavishkaar Capital, and KSK Angel Fund.