# Nclude Nclude is a Private Equity based in Cairo, Egypt. ## Overview - **Organization type:** Private Equity - **Headquarters:** Cairo, Egypt - **Region:** Middle East - **Address:** Cairo Governorate, Egypt - **Founded:** 2022 - **Assets under management:** Undisclosed - **Website:** nclude.com - **LinkedIn:** https://www.linkedin.com/company/nclude-capital ## Regulatory record - **Reports private funds:** No ## About Strategic Operating Partner | Drive value creation for Lower Middle Market firms through Enterprise GTM and M&A Strategy | Nclude Capital serves as a Strategic Operating Partner to lower middle market sponsored and founder-owned firms to successfully connect value propositions with investment theses. Through internally developed playbooks, we help clients drive value creation through enterprise go-to-market strategies that accelerate sales cycles and M&A strategies that help achieve investment goals. Through our proprietary ecosystem of Fortune 500 C-suites, we capture insights that create visibility into the future direction and needs of corporate buyers, and ensure clients make investments that capital markets value most. ## Questions ### Who are the financial backers of Nclude? Nclude was established with capital from four of Egypt's largest state-owned banks: Banque Misr, National Bank of Egypt, Banque du Caire, and United Bank. The initiative was coordinated with the Central Bank of Egypt and the Egyptian Banking Institute, making it a bank-anchored rather than family- or founder-anchored investment vehicle. ### What is Nclude's investment focus? The firm invests in early to growth-stage fintech companies in Egypt, with selective exposure across the broader Middle East and North Africa. Its mandate covers digital payments, embedded finance, SME lending platforms, insurtech, and regulatory technology — all sectors aligned with the Central Bank of Egypt's financial inclusion priorities. ### How does Nclude source its deals? Nclude's deal flow is closely tied to Egypt's fintech ecosystem infrastructure. The firm draws prospects from the FinTech Egypt accelerator program and the Central Bank's regulatory sandbox, both of which serve as upstream feeders for startups developing regulated financial products. Its relationship with the state banking sector also provides visibility into payment and lending infrastructure opportunities. ### Is Nclude structured as a traditional VC fund or something else? Nclude operates more like a policy-aligned investment platform than a traditional venture capital fund. Its capital comes from state-owned banks rather than institutional limited partners subscribing to a closed-end fund, and its mandate is shaped by Egypt's national financial inclusion strategy rather than purely commercial return objectives. ## Related profiles - [NCL Technology Ventures](https://altss.com/profile/ncl-technology-ventures) - [NCORE Ventures](https://altss.com/profile/ncore-ventures) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/nclude Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology