Fintech Ecosystem in Egypt being Supported by Strong MENA Region VC Investments, but Well Behind Global Standards: Report  Crowdfund Insider. : Egypt’s venture capital investment ecosystem has become one of the most fast-evolving markets in the MENA region. It’s been expanding at a 100% CAGR during the last 5 years, according to the 2020 Egypt Venture Investment Report released by Magnitt in collaboration with Egypt’s IT Industry Development Agency (ITIDA). Last year, Egyptian startups and early-stage ventures secured a record $190 million in VC funding, up a considerable 30% YoY.