دي بي آي فنتشرز
DPI Venture Capital is the early-stage technology investment platform of Development Partners International. It advises the Nclude Innovation Fund, a fintech venture fund in Egypt with USD 105 million under management.
Industry: Venture capital | Location: London, United Kingdom | Founded: 2025
About دي بي آي فنتشرز
DPI Venture Capital, referred to by TechScoop as DPI Ventures, is the early-stage technology investment platform of Development Partners International LLP, a London-based private investment adviser focused on Africa. DPI announced the platform on 15 April 2025 from London and Cairo. It targets early-stage, growth-oriented technology businesses in Africa and the Middle East, and it is authorised and regulated by the UK Financial Conduct Authority.
The launch coincided with DPI completing a restructuring that made it investment adviser to the Nclude Innovation Fund LP, a fintech-focused venture fund in Egypt. Nclude was established in March 2022 and had invested more than 28 million dollars across nine transactions at the time, including Paymob, Khazna, FlapKap and Connect Money. The fund has 105 million dollars in assets under management and may invest up to 30 per cent of its commitments elsewhere in the Middle East and Africa. The Central Bank of Egypt supported its launch, and its limited partners include Banque Misr, National Bank of Egypt, Banque du Caire, e-Finance, EBC and Mastercard.
Ashley Lewis is Managing Partner and Head of the platform. She previously led the Africa region at Accion Ventures and worked at Goldman Sachs and Vanguard. Mohamed Aladdin joined as General Partner, and Charlie Watson is Chief Operating Officer. The team is largely based in Egypt.
The parent firm was founded in 2007 by Runa Alam and Miles Morland. Sofiane Lahmar became its chief executive on 1 April 2026, when Alam moved to non-executive chair, and it reported more than 3.5 billion dollars under management. DPI says it has invested nearly 850 million dollars in Egypt over the last decade.
DPI Venture Capital lists a portfolio of twelve companies, including Oliv, Sylndr, Nawy, Money Fellows, Mozare3, Grinta, Partment, Lucky, Connect Money, FlapKap, Khazna and Paymob. According to TechScoop, DPI Ventures joined Paymob's 35 million dollar pre-Series C round in September 2026.
Leadership
- Ashley Lewis, Managing Partner and Head of DPI Venture Capital
- Mohamed Aladdin, General Partner
- Charlie Watson, Chief Operating Officer
- Runa Alam, Co-founder and Chief Executive Officer, Development Partners International
- Sofiane Lahmar, Chief Executive Officer, Development Partners International