Flat6labs Launches Le­banon Seed Fund

Arabnet - The Quarterly - - Content -

Flat6labs Beirut, a part­ner­ship be­tween Flat6labs and Arab­net, an­nounced the launch of Le­banon Seed Fund (LSF), a $20 Mil­lion early stage fund aim­ing to sup­port 100 Le­banese star­tups over the next five years. LSF, man­aged by Flat6labs Beirut and ap­proved by Banque du Liban un­der Cir­cu­lar 331, is poised to bol­ster the growth of seed and early stage Le­banese star­tups as it in­tends to in­vest and to pro­vide a range of in­vest­ment ticket sizes that tar­get com­pa­nies from idea stage all the way to early growth. Star­tups tak­ing part in the seed stage pro­gram will re­ceive an in­vest­ment ticket size of $30,000 to $50,000 and go through a 16-week men­tor­ship-driven seed pro­gram, while early stage star­tups will re­ceive $100,000 to $500,000 as well as ac­cess to Flat6labs Beirut’s re­sources and op­er­a­tional guid­ance to scale. With more than 110 in­vest­ments in star­tups from Egypt, Saudi Ara­bia and the UAE in an ar­ray of in­dus­tries, Flat6labs is bring­ing the re­gional ex­pe­ri­ence and know-how to en­able in­no­va­tive Le­banese star­tups in scal­ing across the MENA re­gion and glob­ally. Funded by LSF, Flat6labs Beirut will seed and grow Le­banese startup com­pa­nies work­ing in in­no­va­tion-based and knowl­edge-driven in­dus­tries. Th­ese in­dus­tries will mainly in­clude in­for­ma­tion and com­mu­ni­ca­tions technology (ICT), elec­tron­ics, man­u­fac­tur­ing so­lu­tions, green tech­nolo­gies and ex­tends to the use of technology and knowl­edge in other core in­dus­tries such as health, ed­u­ca­tion, en­ergy, trans­port, and fi­nan­cial ser­vices.

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