MEVP Raises $50M and Invests in 6 New Startups
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.