+VC launches operations targeting 120 investments in MENA over next three years
Veterans of the startup ecosystem, Sharif El-Badawi and Hasan Haider, have launched Plus Venture Capital (+VC) with its debut fund focused on investing in early-stage tech startups in the Middle East and North Africa (MENA) region.
In a statement issued by the company, +VC will invest in a broadly diversified portfolio of seed stage startups, targeting 120 investments over the next three years. The founders will leverage their legacy of investing in MENA and global startups, as well as their personal networks to design a fund to empower the ecosystem in this rapidly growing region.
As an entrepreneur and former investment banker, Hasan Haidar has been investing in startups in the region for the past ten years, including working for in venture capital in Silicon Valley and MENA, as well as establishing one of the first angel investment groups in the region. His partner, Sharif El Badawi is a seasoned serial entrepreneur, operator and investor, who brings 25 years of technology and growth experience to the firm. Sharif worked at a number of Internet companies since the mid-90s in Silicon Valley, including Google, prior to moving to the region to focus on startup investing. He serves as an advisor and member on several startup and non-profit boards.
El-Badawi added, "We can provide the right level of support to the founders that we invest in. Investment is just the first step, beyond that our founders can expect support from experienced practitioners from around the world and access to a unique network of operators, mentors and investors. We are building a thriving community of startups to support each other and increase the adoption of international standards and best practices. We look forward to partnering with extraordinary and innovative entrepreneurs to help build successful businesses and contribute to a vibrant regional economy."