The MENA region has a shortage of venture capital funds, with only 1% of private equity funds allocated to venture capital funds in 2008. In Egypt, a country of 80 million people, only two serious technology VC firms have raised under $150 million in combined capital in the past decade. Genius Ventures aims to fill this gap through GVF1, providing financial services to small early-stage tech companies to help them develop and validate their businesses. Founded by Karim Elsahy, Genius Ventures is based in Cairo, with representation in Dubai and Doha.