Viaka #1 - Investing in MENA diaspora start-ups with PlusVC
As well as a list of current exclusive Viaka opportunities.
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Hi everyone, this is Hani. This week, we’re shining the spotlight on Plus.VC, a venture capital firm focused on Seed to Series A stage investments in the MENA region and diaspora.
Plus.VC quick stats
GP: Hasan Haider (LinkedIn)
HQ: Dubai / Boston
Fund size: $60M
Average ticket: $250,000 - $2M
Sector preference: Agnostic
I got the chance to chat with Hasan about Plus.VC, their story, and their goals for the future. Here are some of the insights from our chat.
What is Plus.VC’s “raison d’être” ?
+VC is a venture capital firm focused on investing in tech and tech-enabled startups across the MENA region and its diaspora, taking an early leadership role with founders to set them up for success. We invest our first check at the seed stage and can follow-on the best performing portfolio companies all the way through to Series A.
What’s the team’s background?
As fund managers covering the MENA region, we’ve been investing in the region since 2010. With over 200 transactions under our belt as a team, we know what works and what doesn’t. We’ve been the first money in, and we’ve seen companies through to exit. We’ve started our own companies and have been through the good times and the hard times. These collective experiences make us empathetic towards the founder’s journey and it’s why we say that we’re the ones that work for our founders, not the other way around.
What’s your investment thesis?
Our investment strategy is quite unique, and for good measure, employing a two-pronged approach to balance investing early and often in the non-obvious emerging market entrepreneur. The first prong of our strategy involves targeting 100-120 initial investments for risk diversification, we invest an average size of $200k at the seed stage and our follow-on allocation can go up to $2m. Our initial fund allocation will be split 50% for initial investments and 50% for follow-ons, with follow-on allocation potentially increasing to 70% depending on the final fund size.
How do you differentiate yourself from other VC’s in MENA?
We’re obsessed with building community with our founders, and helping you be a part of something bigger. Our team has worked together for 4 years now, and have invested in over 180 startups over the past 3 years with boots on the ground across 4 MENA countries.
Most of us have been in your shoes before and always make an effort to treat founders the way we would want to be treated. Aside from an investment, you’ll get a lot more out of us, including in-depth training on the subjects that matter most at your stage, and availability of dry powder to help take you to the next level. Unlike most regional funds, our roots stem from Silicon Valley and we have vast networks in the US and across the entire region, not just one country or another.
What is Plus.VC and its portfolio companies looking for in Viaka’s network?
Here is what our team and our portfolio founders are looking for right now:
New American LP’s
US-based Crypto legal expert
Abwaab (Arabic online learning platform that is changing the way students learn outside the classroom. $27M raised to date)
American edtech Series C investors
European edtech GTM expert
AI Voice-Recognition expert
CoinMENA (Sharia-compliant crypto-assets trading platform that buys, sells, stores, and receives digital asset's safety and security. $9M raised to date)
Crypto-focused Series B investors
US-based SEC expert
Senior product manager
If you would like to get involved or know more about any of the following opportunities, feel free to reach out directly to Hasan at hasan@plusvc.com
That’s our partner spotlight for the week. Below are a list of opportunities curated from the Viaka network. Feel free to get directly in touch with the listed contact or contact Hani for a warm intro.
VC/Start-Up Opportunities
Outliers Ventures (VC) - Contact Rayan Dawud
Fintech-focused partner
American LP fundraising expertise
IM Capital (VC) - Contact Nicolas Rouhana
Microfinance expert
Connections to Lebanese diaspora angel investors
Breadfast (Startup) - Contact Mostafa Amin
Growth expert with experience in ride-hailing
Logistics and supply chain expert with experience in food delivery
Quick-commerce US-based investors ($5M round)
Telda (Startup) - Contact Ahmed Sabbah
BNPL fintech engineer
Fintech M&A lawyer
Experts/Investors
Sammy Lebrasseur (Expert) - sammy.lebrasseur@gmail.com
Founded 3 digital marketing agencies. Skilled with marketing strategy and content marketing.
Looking for CMO positions in MENA-based start-ups.
Yara Osko (Expert) - yara@osko.com
Senior HR Manager at Fortune 500 company
Offering consulting for US HR best practices / implementation.
Chris Shroeder (Investor) - chris@shroeder.com
HBS MBA / Author Startup Rising: The Entrepreneurial Revolution Remaking the Middle East
Currently scouting for Sequoia’s MENA strategy. Looking for B2C Series A rounds.
Lubna Maria Elia (Investor) - lubna@eliavc.com
Founder of New England Impact Investing Initiative
Currently looking for Seed (<$500K) deal-flow in MENA greentech start-ups
That’s it for this week! If you want to get involved or learn more about any of the above opportunities, feel free to get in touch directly with the listed contact or contact Hani for a warm intro.
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