Two well-known veterans from MENA’s startup ecosystem have come together to launch a new fund dedicated almost exclusively to early-stage tech startups in the region.
Named “Plus Venture Capital (+VC), the new fund was formed by ex-Google executive Sharif El-Badawi, and investment veteran Hasan Haider. Between them, the pair has more than 35 years of investing and operational experience, along with more than 200 successful transactions.
The vision behind +VC, initially worth $60M, is to help startup founders grow while scaling and growing at an expedited pace. The fund is primarily focused on Series A tech and tech-enabled startups across MENA. Additionally, it is also open for startups founded by Arab-origin entrepreneurs living in other parts of the world.
Because of the founders’ rich experience in the domain, +VC portfolio companies can expect unrestricted access to massive regional and international networks of investors, entrepreneurs, and startup incubators/accelerators.
Commenting on the roadmap for the fund, co-founder Mr. Haider noted: “We are excited to launch +VC with a differentiated investment thesis for the region. The aim of the firm is to invest in a broadly diversified portfolio of seed-stage startups, targeting 120 investments over the next 3 years.”
“Our thesis is designed to empower startups in the rapidly growing MENA economy,” he added
To apply, head over to the official +VC registration portal here.