How a smart exit policy will help investors get handsome returns
dubai — We are here to invest in start-ups, grow, exit and generate healthy returns for our limited partners, said Walid Hanna, Middle East Venture Partners (MEVP) founder and CEO to a packed audience of over 200 key investors and entrepreneurs at its one-day Annual Investor Conference held in Dubai on Thursday.
Hanna — a 46-year-old,venture capitalist — has witnessed the exponential growth of the UAE startup ecosystem and strongly recommends a smart strategy to generate healthy return on investment.
“We are witnessing a transformational era for the tech ecosystem in MENA. Many startups that were seeded a couple of years ago, have matured and have become regional champions in their respective verticals. Our investment philosophy is simple: in whatever vertical we look at, we thrive to build the Mena market leader as we witness rising investor interest in the Mena VC asset class and extraordinary purchasing power from tech-savvy and tech-hungry GCC consumers.”
During the conference, MEVP announced an additional $65 million in LP commitments, reaching a total fund size of $125 million for its latest fund, Middle East Venture Fund III (MEVF III). The firm also confirmed that it is in advanced talks with regional sovereign wealth funds and government institutions to reach its $200 million fund target. So far, MEVF III has invested $12 million in five compa- nies: One Click, a technology enabled on-demand last mile logistics provider; The Luxury Closet, a leader in pre-owned luxury and fashion vertical; Eat App, a SaaS provider to restaurants and table booking marketplace; Sarwa, the region’s premier regulated financial robo-advisory; and Nana, a Saudi Arabia-based platform for grocery ordering and delivery. MEVP is also in closing mode for an additional $2 million in a Pakistan-based marketplace providing ride-hailing, parcel and food delivery services.
The conference featured keynote presentations and panel discussions by leading figures in the technology and entrepreneurial ecosystem, who covered a wide range of topics from challenges and opportunities of scaling businesses in the region, to initiatives needed to boost tech-based, growth-stage companies. The keynote speakers also highlighted significant digital trends globally and what this means to the region as well as recent changes in the investment landscape.
A select group of MEVP portfolio companies also presented their recent developments including Hassan Hallas, Founder of One Click, who talked about the vast opportunities in logistics and his company’s recent expansion to new geographies and Kunal Kapoor, Founder of The Luxury Closet, who highlighted how the digital world is helping unlock the supply of second-hand luxury fashion.