Nclude Ventures

Nclude Ventures is a Cairo-based fund with primary focus on fintech and financial inclusion, with strategic relevance to healthcare through the payment rails that underpin digital healthcare monetization in MENA. Check sizes of $1M to $5M place the firm in the institutional seed and small Series A range. The firm is AI-thematic. Healthcare exposure is largely indirect: digital health platforms that depend on financial infrastructure for payment, lending, or insurance components.

The firm’s natural fit is with MENA founders building fintech-adjacent platforms, including embedded finance, payments, and insurance infrastructure that may serve healthcare distribution. For healthcare founders specifically, the relevant pattern is health platforms with embedded payment, lending, or insurance components; pharma supply chain platforms with financing components; or employer health benefits platforms targeting MENA SME or corporate clients. Founders building pure clinical software, biotech, or care delivery without financial services adjacency are not the natural target.

Geographically, Nclude’s advantage is its position in Cairo, MENA’s largest population center, and its connectivity to the broader Egyptian and GCC fintech ecosystems. For MENA-anchored founders building financial infrastructure for healthcare, the firm can be a thoughtful early partner. For founders without MENA ties or without financial infrastructure components, the strategic logic is thin.

The right entry path is a warm intro from a portfolio founder, a regional MENA fintech VC, or a senior operator in Egyptian or GCC financial services. The firm reads partner-led decks and responds to clear fintech-adjacent pitches. The pitch should lead with the financial infrastructure thesis, the healthcare distribution angle, commercial traction, and a credible regional follow-on plan.

Caveats. The firm’s primary thesis is fintech, not healthcare; partner attention will compete with the broader fintech pipeline. Egyptian fund structures interact with cross-border venture dynamics in idiosyncratic ways, including Egyptian pound and FX considerations; engage experienced regional counsel. The firm’s healthcare-specific portfolio depth is not as visible publicly as its broader fintech portfolio; reference calls with portfolio founders are advisable. For MENA founders building fintech-adjacent health platforms with credible payment or insurance components, Nclude Ventures is a thoughtful strategic partner; for pure clinical or care delivery founders, dedicated regional health funds are a better fit.