Tag Archives: New fund

Middle East Venture Partners’ new fund

Middle East Venture Partners (MEVP) yesterday announced their $250M VC fund focused on investing in startups in MENA and Turkey. This makes it the region’s largest non-corporate VC fund and second largest VC fund following Saudi Telecom’s $500M venture fund ST Ventures.

The large fund size is enabled by MEVP’s partnership at the general partner level with Mohammed Alabbar, chairman of Emaar Properties, in May of this year.

Given the large fund size, MEVP is likely to focus on larger transactions beyond the seed and series A stages, and increasingly in the Series B and C stages. In Turkey specifically, the availability of capital in the latter stages is lower than that in the former stages, so this move makes strategic sense for investments in Turkey. I imagine that the same holds true for the MENA region.

I had the opportunity to work with the MEVP team following their co-investments in Turkish female fashion marketplace Modacruz and Istanbul’s inner city ridesharing app Volt, and congratulate the team on their new fund.