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The Venture Codex

Acasia Ventures

Consoleya, 5 El-Fadl, Bab Al Louq, Abdeen, Cairo, Cairo Governorate, 11513, Egypt

Overview

Acasia Ventures is a venture capital firm that invests in early-stage companies in the Middle East and Africa. With a focus on being the first to believe in innovation and entrepreneurship, the firm aims to support the growth of the next generation of market leaders through their unique and scalable solutions. Its Tech Fund I is currently looking for investments in tech-driven and tech-enabled startups at the pre-Seed to pre-Series A stage.

Total investments
5
Lead investments
1
Investments · 12mo
1
Active investors
6

Sector focus

  • Business Development
  • Finance
  • Funding Platform
  • Venture Capital
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Investment portfolio

  • Bluworks.io

    Led · Seed · Nov 2025

    Founded in 2022 by Hussein Wahdan and Farah Osman, Cairo-based bluworks.io targets the largely underserved blue-collar labor segment with an all-in-one workforce management solution. Its software enables businesses to handle employee scheduling, attendance tracking, payroll processing, and instant salary payouts while ensuring compliance with Egyptian labor regulations. The platform is positioned as a digital backbone for SMEs that still rely on pen-and-paper or spreadsheets for HR operations. bluworks.io has shown strong early growth and engagement, according to its investors, and aims to deepen its presence in Egypt’s SME market. The startup also plans to forge partnerships that layer additional services onto its core product and to expand geographically across MENA. To date, the company has secured $2 million across pre-Seed and Seed financings, providing the capital base to accelerate product development and regional scaling.

  • Winich Inc (Winich Farms)

    Participated · Series A · Oct 2024

    Winich Farms operates a platform that connects rural farmers to off-takers (retailers and informal processors) via agent-run collection points and a mobile app where retailers place orders that agents fulfill within 24–72 hours. The company negotiates fair prices with farmers, sells to off-takers at a slight markup (currently ₦720 per kg of paddy rice excluding delivery), and splits revenue among farmers, agents, and the company. It processes monthly orders up to ₦3.7 billion (~$2.2M) and reports a GMV of $30 million, with agent count growing from about 1,000 in 2022 to over 4,000 in early 2024. Winich says it serves more than 150,000 users across farmers, agents, and truck drivers and provides credit access by linking farmers who complete supply cycles to financial partners. The company issues Verve cards to underbanked farmers in partnership with Sterling Bank and plans to issue 195,000 cards in the coming months. To reduce delivery times to distant states, Winich will establish regional fulfillment centres across Nigeria’s six geo-political zones and invest in technology and card operations to scale. Winich Farms operates a farm-to-retailer agritech platform that connects food producers (farmers) directly to off-takers such as small retailers and factories, cutting out excessive middlemen. The platform resolves transactions and settlements within 24 hours and uses a hybrid offline-online model—USSD, SMS, collection-centre agents and a mobile app—to onboard less tech-savvy farmers. The mobile app, launched in June, adds in-platform real-time driver tracking, inventory planning, and payment options; the company is also developing a buy-now-pay-later credit product and plans to provide inventory insurance. As of Jan 2022 Winich reports over 29,000 active food producers, the capacity to move 127 tonnes of produce every 24 hours, and $17.1 million in transaction volume across 461 agents/collection centres. The platform services 500+ retail groups and informal processors across eight cities and has created jobs for hundreds of truck drivers while aiming to reduce food waste and improve food quality and distribution efficiency at affordable costs.

  • Fez

    Participated · Seed · Mar 2023

    Fez Delivery, founded in 2020 and based in Lagos with hubs across Nigeria, operates a hybrid model that combines on-demand delivery with a hub-and-spoke system. The company owns roughly 30% of the assets on its platform and has developed a SaaS platform to onboard and verify trained third-party two-wheeler partners. Individual customers access services via mobile and web apps while business clients use APIs and dashboards; Fez claims over 17,000 customers (70% individuals, 30% SMEs/startups). It completed 200,000 trips last year and reported revenue growth of 20% month-on-month. The startup also launched a vertical, FEZ for fintechs, to deliver debit cards and POS terminals for fintech customers. Fez plans to use new funding to deepen work in Nigeria, improve technology and operational efficiency, hire more talent, and increase marketing, while considering expansion from Q4 2023 into Ghana, Kenya and South Africa.

  • Credable

    Participated · Seed · Mar 2023

    Credable builds a B2B2C digital banking infrastructure stack that provides technology, alternative credit scoring and banking partnerships to enable embedded financial products for businesses. The company also handholds partners through product design, development and management and operates a revenue-sharing model while avoiding credit exposure by pairing clients with balance-sheet providers. Since its official launch in May it has enabled more than six products across Tanzania, Kenya and Uganda, and over 1.2 million people have opened accounts on its platform. More than 200,000 customers (consumers and SMEs) have used its banking products, which include savings, term loans, overdrafts and asset financing; the platform has helped disburse $5 million in loans and seen over $3 million in deposits. Credable plans to launch four more products this year and expand into larger markets such as Pakistan and Nigeria where regulatory conditions and channels are conducive. The company was founded by Nadeem Juma, Jad Abbas and Michael Tarimo and is based in Dubai.

Team

  • Biola Alabi

    General Partner

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  • Mohamed Hussain

    Senior Investment Associate

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  • Hanan Abdel Meguid

    Investment Committee Member, Cairo Angels Syndicate Fund

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  • Alia Bayoumi

    Investment Associate

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