Wamda Capital to Start Second Tech and E-commerce Fund Reaching $500 Million
Wamda Chairman Fadi Ghandour, who recently sold his holding in Aramex, plans to start fundraising for Wamda II next year. The new fund is expected to target an average investment of $250,000 to $5 million in the early and growth stages of e-commerce and technology companies and reach $300 million to $500 million in size. Ghandour who sold his stakes to two companies backed by Mohamed Al-abbar is planning to spend more time on new ventures and support tech startups around. He seems to be taking an interest in Turkey, Pakistan, and Iran’s startup industries. “E-commerce is growing massively in the region. There’s about 200 million people that are online. They are transacting. They are effectively building the next economy. I’m betting on those,” Ghandour said.