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According to bank provided information, the proposed operation concerns a participation in Middle East Venture Fund IV (the "Fund"), a closed-end venture capital fund with a target size of USD 150 million. The Fund's strategy is to invest in high-growth, early-stage technology companies, with a particular focus on sectors such as fintech, e-commerce, logistics, health-tech, artificial intelligence, Internet of Things (IoT) and Software as a Service. The geographic scope of the Fund will be primarily the Levant (Lebanon, Jordan), North Africa (Egypt, Morocco, Tunisia, and Algeria) and other countries of the Middle East and North Africa (MENA) region. The Fund will be managed by Middle East Venture Partners, an experienced VC firm anchored in the MENA region.
The Fund will focus on start-ups with high growth potential and support them in growing from Seed stage to Series A, Series B, with the objective of becoming national and regional champions. Through its investments, the Fund is expected to contribute to several Sustainable Development Goals including SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth) and SDG 9 (Industry, Innovation and Infrastructure.
The investment type was not available at the time of the snapshot.
| Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
|---|---|---|---|---|---|---|
| - | - | - | - | Middle East Venture Partners | Undisclosed | Finance |
*Contact information not provided at the time of disclosure*
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