New $60mln venture capital firm +VC launched | ZAWYA MENA Edition

SectorFinancial Markets

Plus Venture Capital (+VC) announced the launch of its operations and its $60 million debut fund focused on investing in early-stage tech startups in the Middle East and North Africa (Mena) region and its diaspora.The firm's leadership, led by ex-Google executive Sharif El Badawi and investment veteran Hasan Haider, is taking an innovative approach to supporting early-stage companies - leveraging more than 35 years of combined investing and operating experience. Haider said: "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 5 year legacy of investing in Mena and global startups has helped us build deep personal networks for more...