MEVP Announces Five New Investments
After quietly working on potential deals over the past 12 months, Beirut-based venture capital firm Middle East Venture Partners (MEVP) has announced five new investments today, which include three new deals and two additional rounds of funding for current portfolio companies:
"Although we're sector agnostic, we're investing in a diversified in a diversified range of tech and consumer Internet products, each of which are truly Pan-Arab and have great founders and management. MEVP believes in co-investment as a strategy for enhancing cohesion in the venture capital industry in MENA. We are looking forward to future collaborations," said Walid Mansour, Executive Director at MEVP.
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Anghami.com: “all you can eat” mobile music and web music streaming service targeting the Arab World with premium Arabic and foreign music content. A major Turkey based VC is investing alongside MEVP in this round. Visit www.anghami.com |
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Laimoon.com, a job search engine with an intuitive user interface and higher relevancy. Currently focused on jobs in the UAE and Qatar, Laimoon is helping companies easily connect with talented professionals. Expansion plans to the rest of the Middle East are underway. An institutional UAE based investor is investing alongside MEVP in this round. Visit www.laimoon.com |
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Box & Automation Solutions: a cash management, audit and treasury solutions provider, via the SWIFT network. It allows treasurers and decision makers to fully monitor and audit their global cash positions in real time. Sigma Gestion, a French SME fund is co-investing alongside MEVP in this round. Visit www.boxautomation.com |
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Current MEVP portfolio companies benefiting from a 2nd round of financing: |
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Pin-Pay SAL: a mobile banking services provider allowing users to use their mobile phones to pay and receive payments into their bank accounts. Launch partner is Bank Audi. Bank Med and Bank Audi have both invested alongside MEVP in this second round. Visit www.pin-pay.com. |
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Mezzabites Technologies Company LTD. (Falafel Games): a designer and producer of Arabic content online MMO games targeting MENA audience. The venture arm of the project is Dubai-based Satcaster, MBC Group, under their new division, “MBC Ventures”, are investing alongside MEVP in this round. Visit www.falafel-games.com
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