عربي

Women-led VC firm Globivest completes first close of first fund

Women-led VC firm Globivest completes first close of first fund
  • Lebanon-based venture capital (VC) firm has achieved its first closing for an undisclosed sum.
  • Founded in 2016 by Jasmine Busson, Globivest was initially a family office with the goal of making investments in cutting-edge technology. It has since evolved into an institutional VC firm that concentrates on funding startups that have both financial returns and significant effects in the areas of social inclusion, education, health, and the environment.
  • The female-led VC firm has managed to secure two-thirds of the $25–30 million target fund.

Press release:

In a groundbreaking move, Globivest proudly announces the achievement of its first closing, solidifying its position as the premier women-led venture capital fund in the Middle East. Founded in 2016 by Jasmine Busson, with a background spanning the automotive industry and equestrian show jumping, Globivest started as a family office with a mission to invest in cutting-edge technologies.

The journey from a family office to an institutional VC fund has been marked by significant growth, with a dedicated team led by Jasmine Busson, Sophie Makzoumé, and Charbel Moarbes. Over the past six years, Globivest has strategically invested in fifty startups, building a network and gaining recognition from major ecosystem players, including Citi Ventures, Plug and Play, Newfund, Angelini Ventures, and Arab Angel Fund.

In 2023, leveraging its success and organic growth, Globivest transitioned to the next phase by raising its first institutional fund. This milestone not only cements Globivest's position in the industry but also positions it as the first women-led fund in the region.

The fund's refined thesis aligns with the World Health Organization's "One Health" approach, emphasizing the interconnectedness of human health, animal health, and a healthy environment. Globivest aims to invest in startups that contribute to both financial returns and impactful outcomes in the fields of health and the environment.

Dr. Laura-Joy Boulos, a neuroscientist recognized as one of the 15 most promising women scientists by the L’Oréal-UNESCO Foundation in 2020, joined as a partner to validate the scientific foundations of the portfolio startups. Jessica Al-Hussaini, an engineer with a decade of experience in finance and algorithmic trading, also joined as a senior associate, bringing a wealth of industry knowledge.

Despite challenges in fundraising within the region, Jasmine and Laura-Joy, the dynamic duo at the helm, achieved their first closing target in six months, securing two-thirds of the total fund goal of $25-30 million. The journey, however, comes with its share of obstacles, as women continue to be underrepresented in the ecosystem.

Jasmine and Laura-Joy commented, "Challenges are where we find our strength. Facing constant difficulties and occasional paternalistic remarks only fuels our determination. We aim not only to establish our legitimacy in the industry but also to inspire more women and underrepresented individuals to tread a similar path."

As Globivest embarks on its second closing in early 2024, the firm remains steadfast in its commitment to driving change, bridging the gap, and proving that impactful investments and financial returns are not mutually exclusive.

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