Mokhtar Ibrahim's Journey in Venture Capital ft. a BECO Capital Perspective

This week we learn about BECO Capital's holistic approach which combines strategic investment, operational support, and strong community networks to drive entrepreneurial success. And, a NEW event!

Aug 19, 2024

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Investor Showcase: BECO Capital

How does BECCO’s approach to venture investing align with what excites you most about your role as Principal?

BECO’s approach to investing goes beyond capital allocation. This is what makes it very exciting that I get to actively help and support these companies grow after we write our first cheque.

What stages, industries, and regions does BECCO focus on?

We are industry agnostic and we invest in MENA early stage startups; mainly from Seed to Series A.

As Principal at BECCO, what unique value do you and your team offer portfolio companies beyond capital?

Strategy and Operation, Market Intelligence, Fundraising, and a reliable partner.

We spoke with Mokhtar Ibrahim, Principal at BECO Capital

The Story Behind the Venture

What are you currently working on, and what motivated you to pursue this path? (Jobs, roles, projects, startups, etc.)

I've been with BECO Capital for the past two years, focusing on early-stage venture investing in the MENA region. My work primarily involves exploring various verticals across the UAE, Saudi Arabia, and other markets like Egypt. One of the most engaging aspects of my role is collaborating with our portfolio companies, assisting them in addressing their critical challenges.

This is precisely why venture capital appeals to me. Throughout my career, I've had diverse experiences in consulting, M&A, private equity, and even founding my own company. Venture capital serves as a convergence point for these varied responsibilities - I get to do everything I like at the same job.

I also very much believe in the potential of venture in accelerating economic growth in our part of the world. Which is why being a part of the current growth momentum for entrepreneurship in the region is extremely exciting. Unlike most other investment disciplines, venture capital offers the opportunity to witness the real-time impact of your work, which I find incredibly rewarding

Connecting with the MENA Startup Community

Why are you interested in connecting with MENA's global startup community?

Connecting with MENA's global startup community is essential for fostering innovation in our region. It's about building networks that facilitate knowledge sharing and collaboration. These connections help us form stronger teams, tackle bigger challenges, and position our startups on the global stage. I think of all the ways Silicon Valley has emerged as a center for innovation. The story of Silicon valley is a story of strong networks of communities of builders and innovators that spanned San Francisco, New York, Boston and even expanding into India, Japan and Korea.

But beyond my job, I think the MENA global community has incredible talent. So personally, I find it rewarding to be constantly connected, intrigued and challenged by the innovative ideas and diverse experiences I get to encounter.

Sourcing and Standout Factors

How do you typically source new deals, and what makes a potential investment stand out to you?

At BECO Capital, while deal sourcing is a collective responsibility, we have a dedicated team ( Leen Nabulsi and Yousif Damirji) that are the frontline of the investment team. As for securing the best deals, I believe reputation is key. I emphasise reputation over mere recognition because top-tier founders often come through referrals from other founders. These introductions only happen if you're perceived as a valuable investor.

Therefore, sourcing the best deals is primarily a function of being a genuinely value-adding investor. It also ties back to the importance of community engagement. Building strong relationships across various networks ensures we're always up-to-date with the latest startups and this also allows us to build essential relationships with key stakeholders that unlock opportunities for our protolfio companies. In essence, our ability to attract high-quality deals is a reflection of our commitment to adding real value and our deep integration within the startup community and those around it.

For us a potential investment stands out if it has two ingredients: a capable founding team and an exciting market potential.

Key Qualities in Founding Teams

What are the key qualities or green flags you look for in founding teams before making an investment?

First, they're obsessed with the problem, not just their solution. It sounds obvious, but you'd be surprised how many founders get stuck on their idea, not the problem they are solving. So being problem focused allows them to pivot when the market tells them to. Second, they're awesome at building a team. If they can attract top talent, it shows they can sell their vision and build a real company culture. Lastly, they think long-term. The founders who can delay gratification and stay patient - are the ones who usually build something truly substantial.

Unique Value Beyond Capital

What unique value do you bring to your portfolio companies beyond capital?

I believe BECO offers a truly holistic value proposition to its portfolio companies, and I say this based on my firsthand experience and observations of founder feedback. Our approach revolves around four key pillars:

First, we act as strategic and operational partners. We don't just invest and step back; we become an extension of the team. This involves collaborating on growth strategies, providing market intelligence, and assisting with transformation projects. We also help with hiring, building advisor networks, and developing strong corporate governance as companies evolve.

Second, we provide substantial fundraising support. Even when we're not directly investing, we run a supportive process to connect founders with other investors both regionally and globally. Our processes have helped our portfolio raise over $1.1B in growth capital to date

Third, we leverage our extensive network for business development. As one of the oldest venture funds in the region, we've built strong relationships across various sectors, which we actively use to benefit our founders. Lastly, and perhaps most importantly, we create a safe space for open dialogue. We recognize that venture investing is a long-term partnership built on trust. We invest in strong teams because we believe in their leadership, and we foster an environment where founders feel comfortable sharing their challenges and receiving constructive feedback.

In my experience, this holistic approach has been greatly appreciated by the founders we work with. It's not just about capital; it's about being a true partner in their journey.

Follow-on Capital

Do you provide follow-on capital to portfolio companies?

Absolutely, we do. Our approach as early-stage investors is centered on building long-term partnerships with our founders. One of the key advantages we have is our sizable fund, which allows us to support our most promising founders through multiple rounds of investment. Typically, our investment strategy involves following up on our initial investments up to Series B, provided the company's valuation falls within our target range.

Favorite Viaka Network Moments & Connections

What's your favorite part of the Viaka Network thus far? Do you have any memorable experiences or helpful connections to share?

What stands out to me is the team's genuine commitment to supporting the entrepreneurship community in the MENA region. Throughout my interactions with them, I've consistently seen evidence of their dedication to providing real value and their efforts to ensure that their events have a meaningful impact.

A recent example that comes to mind is my involvement in preparing for their upcoming event on 'Planning Your First Raise.' The team has been incredibly diligent in their approach, putting in significant effort to secure speakers who can offer valuable insights and truly make a difference for the attendees.

🔗Join Mokhtar Ibrahim, Principal at BECO Capital, as he shares crucial insights on what materials should be in your pitch deck and data room to impress potential investors.
Register today and share widely! 🔗

Support from the Viaka Network

How can members of the Viaka Network (and beyond) be most helpful to you and your work right now?

I have a video series where I share common insights from revenue leaders and that’s why I am looking for people related to the following domains: sales, customer support, customer success, sales enablement, and RevOps!

Psst! Join the Viaka network now and unlock our exclusive Slack channel, along with many other benefits! Chat directly with members like Abe and others eager to share their expertise. Don't miss out!

Join the Viaka Network

Recent Investment Example

What is a recent deal you’ve completed? Can you briefly describe why you decided to invest?

In our latest fund, we've made five investments since Q4 2023. I've been directly involved with two of these: BRKZ and Sirdab.

BRKZ is a B2B marketplace for construction materials. They're addressing inefficiencies in the construction industry by offering contractors and suppliers enhanced procurement processes through price transparency, automation, and financing options.Sirdab, on the other hand, provides flexible warehousing solutions. They've developed a platform that gives businesses full digital control and visibility over the storage and transportation of their items.

What drew us to both these companies were two key factors. First, the caliber of the founding teams. Both BRKZ and Sirdab are led by exceptionally strong founders who demonstrate a powerful blend of strategic thinking, versatility, and tactical execution.

Secondly, we were attracted by the evolving market opportunities in their respective sectors and geographies. Both are operating in large, growing markets with clear pain points. The problems they're tackling are complex, which creates good barriers to entry. Additionally, their business models allow for the development of adjacent services, providing potential for further growth and diversification. This follows our approach to thesis driven investing; where we have identified key sectors and key trends that will evolve over the next coming years of which is logistics and construction in the GCC.

Current Investment Activity

Are you still deploying capital into new deals?

Yes, we have an active new fund that we are deploying from.

Bonus: Favorite Dish from MENA

What is your favorite dish from the MENA world?

By far it is Koshari

NEW: Viaka Virtual Roundtable series

Join us for "From Deck to Dollars: Preparing for Your First Raise," the inaugural session of our new Viaka Virtual Roundtable series, where we bring together experts to dive into essential topics across various sectors, from founders to investors and subject matter experts. In this session, we'll dive into what a founder should have prepped before going out for their first raise, featuring expert discussions that span from legal structures to investor syndicate management. 👇 Click below to register and SPREAD THE WORD! 🔗

🪐 Events within the Viaka network & beyond:

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