New Venture Capital firm for African tech startups launches

A new Venture Capital fund titled, Plus VC (+VC), has launched and announced the start of a $60-million debut fund targeted at investing in early-stage tech startups in the Middle East and North Africa.

Plus VC is focusing on early-stage tech startups for its first investment fund worth $60-million

Created by veteran investors, Hasan Haider and ex-google executive Sharif El-Badawi, +VC plans to invest in over 100 tech startups with its initial fund.

As leaders in the startup ecosystem arena, Haider and El-Badawi bring together over 35 years of experience in investing and operating to Plus +VC. Having completed over 200 transactions together, the firm’s managing partners have a wealth of knowledge and proven track records of helping portfolio companies achieve operational milestones and building global companies.

Distinguishing itself from other VC firms in the region, +VC is focused on early-stage tech startups in the MENA (the Middle East and North Africa) region.

Haider comments on the launch of the new Venture Capital firm.

“We are excited to launch +VC with a differentiated investment thesis for the region. The firm aims to invest in a broadly diversified portfolio of seed-stage startups, targeting 120 investments over the next 3 years. Our 5 year legacy of investing in MENA and global startups have helped us build deep personal networks for exceptional deal flow. Our thesis is designed to empower startups in the rapidly growing MENA economy. We intend to leverage our expertise and knowledge to positively impact the growth of the region’s burgeoning startup ecosystem.”

Haider is an experienced entrepreneur and former investment banker with 10 years of experience investing in startups in the region. The talented entrepreneur reportedly established the first angel investment groups in the region. Partnered with serial entrepreneur and operator, El-Bawadi, Plus VC has a strong foundation for understanding investment and early-stage startup development.

El-Badawi explains that the dynamic and talented founder duo have a wealth of experience in the VC sector.

“With +VC we have the advantage of using our unique experience to do something a little different. With our team having worked and invested in many startups over the years, we can provide the right level of support to the founders that we invest in. Investment is just the first step, beyond that our founders can expect deep support from experienced practitioners from around the world and access to a unique network of operators, mentors, and investors. We are building a thriving community of startups to support each other and increase the adoption of international standards and best practices. We look forward to partnering with extraordinary and innovative entrepreneurs to help build successful businesses and contribute to a vibrant regional economy.”

Read more: Egypt startup launches with six-figure seed funding
Read more: Zambian agritech startup secures $2.1-million funding

Featured image: Hasan Haider and Sharif El-Badawi, founders of +VC (Supplied) 

Ishani Chetty: Editor
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