{"id":575367,"date":"2020-10-13T04:34:00","date_gmt":"2020-10-13T04:34:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/plus-venture-capital-to-invest-usd-60-mn-in-120-mena-tech-startups-with-new-fund\/"},"modified":"2020-10-13T04:34:00","modified_gmt":"2020-10-13T04:34:00","slug":"plus-venture-capital-to-invest-usd-60-mn-in-120-mena-tech-startups-with-new-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/plus-venture-capital-to-invest-usd-60-mn-in-120-mena-tech-startups-with-new-fund\/","title":{"rendered":"Plus Venture Capital to invest USD 60 mn in 120 MENA tech startups with new fund"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>STARTUP WATCH- Plus Venture Capital looks to invest USD 60 mn in 120 MENA tech <\/strong><strong>startups with new fund: <\/strong><a href=\"https:\/\/plus.vc\/about\/\">Plus Venture Capital<\/a>, a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d040d9f6-aaac-4fda-b434-ef10e7b4136f\">new VC firm set up<\/a> by former 500 Falcons managing partners Sharif El Badawi and Hasan Haider, will invest USD 60 mn in 120 early-stage startups across the Middle East and North Africa over the next three years through its inaugural VC+ fund, according to <a href=\"https:\/\/ent.news\/2020\/10\/VC-launch-PR-Under-Embargo-until-Oct-12th.pdf\">a statement (pdf)<\/a>. The fund, which will target seed to series A companies, has received some commitments from public and private sector investors, El Badawi and Haider told <a href=\"https:\/\/www.menabytes.com\/plus-venture-capital\/\">Menabytes<\/a>, without disclosing further details.<\/p>\n<p><strong>About the fund:<\/strong> VC+ will put USD 200-250k into seed-stage companies followed by up to USD 2 mn in follow-on funding, while series A funding will be geared towards developing companies already in its portfolio, El Badawi and Haider told Enterprise. The fund, which plans to focus on giving more funding and focused support to a smaller number of companies, will target tech and tech-enabled startups. Particular focus will be given to those operating in the education, healthcare and finance sectors \u2014 that have existing products and have been up and running for at least three months. <strong>The fund plans to reach its first close in 4Q2020<\/strong>, El Badawi and Haider said. The duo <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d040d9f6-aaac-4fda-b434-ef10e7b4136f\">announced their exit<\/a> from 500 Falcons last month, and will continue to support the firm over the next 18 months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>STARTUP WATCH- Plus Venture Capital looks to invest USD 60 mn in 120 MENA tech startups with new fund: Plus Venture Capital, a new VC firm set up by former 500 Falcons managing partners Sharif El Badawi and Hasan Haider, will invest USD 60 mn in 120 early-stage startups across the Middle East and North [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,345,2483,6071,2380,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-575367","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-mena","tag-plus-venture-capital","tag-sharif-el-badawi-and-hasan-haider","tag-speed-round","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"112006ae-ef5b-46e0-91aa-b3c26eb8f6cd","is_powered_by":true,"section_story_id":"c6fcfda5-ec3d-4379-9cb7-c5d9d3979368","story_type":"1","photo_url":"","photo_position":"above","related_issue":[575355],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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El Badawi and Haider will announce the details for their new venture in coming weeks, the site said, adding\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577306,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/17\/modus-capital-could-invest-in-egyptian-ai-blockchain-startups-with-new-usd-75-mn-fund\/","url_meta":{"origin":575367,"position":1},"title":"Modus Capital could invest in Egyptian AI, blockchain startups with new USD 75 mn fund","author":"enterpriseam admin","date":"17 November 2022","format":false,"excerpt":"Modus\u2019 new fund eyes African tech startups \u2014 including here: MENA-focused venture capital firm Modus Capital has launched a fresh USD 75 mn fund, dubbed Modus Africa, that will target early-stage African startups, it said (pdf) on Tuesday. The fund will invest in companies that use AI and blockchain technology\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/275.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593625,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/uaes-beco-closes-second-vc-fund\/","url_meta":{"origin":575367,"position":2},"title":"UAE\u2019s Beco closes second VC fund","author":"enterpriseam admin","date":"3 October 2019","format":false,"excerpt":"STARTUP WATCH- UAE\u2019s Beco closes second VC fund: Beco Capital has closed its second startup fund at USD 100 mn, exceeding its initial USD 80 mn target, the Dubai-based venture capital firm said in a press release (pdf). Among those committing capital to the fund were Rimco Investment, the International\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555643,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/venturesouq-launches-usd-50-mn-mena-fintech-fund\/","url_meta":{"origin":575367,"position":3},"title":"VentureSouq launches USD 50 mn MENA fintech fund","author":"enterpriseam admin","date":"22 November 2021","format":false,"excerpt":"Dubai-headquartered Venture capital firm VentureSouq has formally launched a USD 50 mn fintech fund that has already made several investments in Egyptian startups this year, it said in a statement (pdf). 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The venture capital fund, which has a USD 50 mn target size, will invest in \u201ctech-oriented growth-stage\u201d companies and\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592061,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/25\/egypt-tops-african-countries-in-vc-transactions-in-2019-says-venture-burn\/","url_meta":{"origin":575367,"position":5},"title":"Egypt tops African countries in VC transactions in 2019, says Venture Burn","author":"enterpriseam admin","date":"25 December 2019","format":false,"excerpt":"Egypt tops African countries in disclosed VC transactions in 2019: Egyptian startups received the biggest number and funding value of venture capital (VC) transactions that went to early-stage African startups in 2019, according to Venture Burn. 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