Nclude Closes More Than $112 Million Fund for Fintech and AI Startups

Nclude has reached a final close of more than $112 million to back fintech and AI startups across Africa and the Middle East, according to Tech in Africa. The Egyptian fund invests between $500,000 and $10 million in companies from seed stage through Series C.

Nclude focuses on financial technology, financial inclusion and products that combine fintech with AI or other emerging technologies. Its portfolio includes 15 companies working in areas such as affordable insurance, healthcare access, financing for small and medium sized businesses, and digital savings and investment products.

Egypt remains the fund's main market, but Nclude can allocate up to 30% of its capital outside the country. DPI Venture Capital, the venture capital platform of Development Partners International, became the fund's investment adviser following a restructuring in 2025.