Flat6labs Launches Lebanon Seed Fund
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.