Growth stage startups in Africa should prepare to pitch to Global Ventures, a Dubai-based VC founded by Noor Sweid who was previously with Leap Ventures and Dubai Future Foundation. The VC has just announced the closure of its first fund of $50 million.
Here Is All You Need To Know
- According to its Managing Partner Basil Moftah in a conversation with MENA-focused tech news site MENAbytes, the fund which has been investing in startups across the region for a little over two years was closed earlier this year.
- Backed by Jada, the $1 billion fund of funds created by Saudi’s Public Investment Fund, UAE’s Mubadala, Abu Dhabi Investment Office, and different other investors, Global Ventures has previously invested in fifteen startups including Kitopi, HolidayMe, Mumzworld, Elmenus, Floranow, Tribal Credit, Mamo Pay, and SpiderSlik.
Read also: Mastercard Foundation Announces A $15.5m Support Fund For Startups In Ghana
A Look At The VC Global Ventures
- Global Ventures is led by Noor Sweid who was previously a managing partner at Beirut-based Leap Ventures and most recently Chief Investment Officer of Dubai Future Foundation, and Basil Moftah, the former president of Intellectual Property & Science at Thomson Reuters. He had led the acquisition of Zawya for Thomson Reuters and exited a $1 billion revenue division of Thomson Reuters to a private equity firm in 2016 for $3.55 billion.
- The firm generally invests in revenue-generating startups (with at least $1 million in annual revenue) across Middle East & Africa but has made few exceptions. On its website, Global Venture says that they’re looking for startups that are revenue-generating, industry winners, capital-efficient, immensely scalable and have a clear path to exit.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.