New Bahrain-based $60 mln MENA VC fund sees post-COVID tech wave

DUBAI, Oct 11 (Reuters)A new Bahrain-based $60 million venture capital fund aims to invest in 120 early-stage start-ups across Arabic-speaking MENA countries, banking on the regional growth of tech and tech-enabled business in the post-coronavirus world.

Plus Venture Capital (+VC) aims to close fundraising before the end of the year, which is expected to come from mostly regional institutional investors and family offices.

“We think that future growth in the region will be coming from tech-enabled business; for GDP and for job creation. We saw it happen in the last two recessions,” Plus Venture Capital co-founder Sharif El-Badawi said.

They will make seed stage and series A investments.

As part of efforts to tackle its deficit and diversify the economy, Bahrain has been trying to re-establish itself as a regional finance centre after losing ground to Dubai, and has been marketing itself as a financial technology and start-up

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New Bahrain-based $60 million MENA VC fund sees post-COVID tech wave

DUBAI (Reuters) – A new Bahrain-based $60 million venture capital fund aims to invest in 120 early-stage start-ups across Arabic-speaking MENA countries, banking on the regional growth of tech and tech-enabled business in the post-coronavirus world.

Plus Venture Capital (+VC) aims to close fundraising before the end of the year, which is expected to come from mostly regional institutional investors and family offices.

“We think that future growth in the region will be coming from tech-enabled business; for GDP and for job creation. We saw it happen in the last two recessions,” Plus Venture Capital co-founder Sharif El-Badawi said.

They will make seed stage and series A investments.

As part of efforts to tackle its deficit and diversify the economy, Bahrain has been trying to re-establish itself as a regional finance centre after losing ground to Dubai, and has been marketing itself as a financial technology and start-up hub for

Read More
Read More