Middle East Venture Partners Closes US$10 Million of its New Fund (MEVF)

15 Jun, 2010

Middle East Venture Partners (MEVP) today announces the first close of US$10 million of a new fund, Middle East Venture Fund L.P. (MEVF).

Targeting over US$20 million, MEVP is a Middle East focused venture capital firm that invests in the early and growth stages, primarily but not exclusively, Lebanon and the greater Levant region.

MEVP will initially target the consumer technology and consumer products and services sector, it will also considers ventures in B2B services, logistics, food processing, and hospitality sectors. “We’re very pleased with the enthusiasm demonstrated by the investor community and their responsiveness to our investment strategy,” commented Walid Hanna, founder and Managing Director.

“My co-founders and I are firmly convinced of the remarkable high-growth potential of early-stage entrepreneurship in this region. The emergence of institutional investment funds to back talented entrepreneurs will further fuel local startup activity, attracting world-class talent and producing regionally, if not globally, competitive products and services.”

MEVP is founded by Walid Hanna, Rani Saad, and Tarek Sadi. Together, the co-founders have over forty years of experience in serial entrepreneurship, venture capital, global innovation acceleration, multinational corporate development, and strategic finance. They have invested and operated within and outside the MENA region and have been involved with leading startups, multinationals, and private investment funds.

ArabCrunch has recorded interview with the founders of MEVP during Arabnet where they announced some of their investments stay tuned in the coming day to view the video interview on AC.

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