New Venture Capital Firm +VC Launches with $60 Million Fund
A new Venture Capital fund called, Plus VC (+VC), has launched and unveiled a $60-million fund targeted at investing in early-stage tech startups in the Middle East and North Africa.
For its first $60 million investment fund, Plus VC is focusing on early-stage tech start-ups.
Created by veteran investors, Hasan Haider and former Google executive Sharif El-Badawi, + VC plan to invest its initial fund in over 100 tech startups.
Haider and El-Badawi put together over 35 years of experience in investing and operating in Plus + VC in the start-up ecosystem. Having collectively completed over 200 transactions, the managing partners of the company have a wealth of experience and established track records of helping portfolio companies achieve organisational milestones and develop global businesses.
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As a distinction from other VC firms in the region, +VC is focused on MENA (the Middle East and North Africa) region.
Haider comments on the launch of the new Venture Capital firm.
“We are excited to launch +VC with a differentiated investment thesis for the region. The firm aims to invest in a broadly diversified portfolio of seed-stage startups, targeting 120 investments over the next 3 years. Our 5 year legacy of investing in MENA and global startups have helped us build deep personal networks for exceptional deal flow. Our thesis is designed to empower startups in the rapidly growing MENA economy. We intend to leverage our expertise and knowledge to positively impact the growth of the region’s burgeoning startup ecosystem.”
Haider is an accomplished entrepreneur with 10 years of experience investing in start-ups in the area and a former investment banker. Reportedly, the talented entrepreneur established the region’s first angel investment groups. El-Bawadi, +VC, in partnership with the serial entrepreneur and operator, has a strong foundation for understanding investment and early start-up development.
El-Badawi speaks on the wealth of experience of the founder duo in the VC sector
“With +VC we have the advantage of using our unique experience to do something a little different. With our team having worked and invested in many startups over the years, we can provide the right level of support to the founders that we invest in. Investment is just the first step, beyond that our founders can expect deep support from experienced practitioners from around the world and access to a unique network of operators, mentors, and investors. We are building a thriving community of startups to support each other and increase the adoption of international standards and best practices. We look forward to partnering with extraordinary and innovative entrepreneurs to help build successful businesses and contribute to a vibrant regional economy.”
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