Arabnet Arabnet

“We have recently managed to raise a 50 Million dollar fund based on the BDL circular 331,” announced Walid Hanna, managing partner of Middle East Venture Partners (MEVP) on Wednesday March 5^th,  the first forum day  of Arabnet  Beirut 2014. “We have raised this [through]  8 Lebanese banks and 15 co-investors.” 

MEVP is one of the first companies to benefit from BDL’s staggering 400 million dollars equity fund to support Lebanese startups and venture capitals, securing 6 new startups in 2013. The startups are Fadel partners, Potential, Apstrata (known as Alamanta), Instabug,  Lamsaworld, and Bnooki a financial tool with a price comparison website. 

The 6 giants-in-the-making have guaranteed 150 new jobs so far and raised the total number of daring MEVP ventures to 21. “We only look for ACL companies that have started in Lebanon with a regional or global market,” added Hanna.