MEVP Raises $50M and In­vests in 6 New Star­tups

Arabnet - The Quarterly - - Industry Stories -

MEVP raised a 50 Mil­lion USD fund, known as the IM­PACT fund, based on the BDL cir­cu­lar 331 through 8 Le­banese banks and 15 co-in­vestors. The fund will in­vest in star­tups in both the ICT and cre­ative sec­tors in the re­gion. MEVP also an­nounced 6 new in­vest­ments: $1M in Fadel Part­ners, $1M in Po­ten­tial, $600k in Ap­strata (known as Ala­manta), an un­re­vealed amount in In­stabug and Bnooki, and $500M in Lam­saworld. The 6 up-and-com­ing star­tups have guar­an­teed 150 new jobs so far and raised the to­tal num­ber of MEVP ven­tures to 21.

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