Wamda Cap­i­tal to Start Sec­ond Tech and E-com­merce Fund Reach­ing $500 Mil­lion

Arabnet - The Quarterly - - Industry Stories -

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.

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