CHRISTOS MASTORAS I MANAGING PARTNER I ILIAD PARTNERS
The MENA startup ecosystem is nascent but has come a long way in the last few years. It is only natural for this to take time. The support system around startups is now developing at a faster pace - funding, incubators and accelerators, mentorship, and all the pieces of the puzzle are coming together gradually. The range of exit options are expanding: global players seeking to expand their footprint to MENA and local groups seeking to digitize and access innovation, both via acquisition as well as via a now more active secondary market. We have seen some significant activity in recent years such as the acquisition of Souq.com by Amazon, and Fetchr raising the largest Series B round in MENA thus far led by Silicon Valley-based VC New Enterprise Associates (NEA).