Dubai-based VC Agency, International Ventures, Secures $50 Million in Capital, Firm’s Managing Associate, Basil Moftah, Confirms

Dubai-based International Ventures, a enterprise capital agency established by Noor Sweid who was beforehand concerned with the Dubai Future Basis and Leap Ventures, has secured $50 million in capital.

This, in accordance with Basil Moftah, the agency’s managing associate, who shared the small print of the funding with MENAbytes on April 10, 2020.

The International Ventures fund has reportedly been making strategic investments in varied native startups throughout the Center East area in the course of the previous two years.

International Ventures is funded by Jada, the $1 billion “fund of funds” established by Saudi Arabia’s Public Funding Fund, UAE’s Mubadala, Abu Dhabi Funding Workplace, amongst others.

The fund has positioned investments in fifteen promising startups, which embody Elmenus, Floranow, HolidayMe, Kitopi, Mamo Pay, Mumzworld, Tribal Credit score, and SpiderSlik.

International Ventures is managed by Noor Sweid who beforehand served as managing associate at Leap Ventures and lately labored on the Dubai Funding Basis, because the chief funding officer of Dubai Future Basis.

Basil Moftah additionally helps with operating International Ventures. He beforehand served because the president of Mental Property & Science at Thomson Reuters. Moftah was additionally liable for managing the acquisition of Zawya for Thomson Reuters. In 2016, Moftah notably helped exit a $1 billion income division of Thomson Reuters to a non-public fairness firm for $3.55 billion.

The corporate often makes investments in startups with a excessive income potential. Most of those initiatives are primarily based within the MENA area.

As talked about on its official web site, International Ventures is actively on the lookout for early-stage companies that  are revenue-generating, scalable, capital-efficient, and have a clearly deliberate path to exit.