New Iraqi venture fund, IVP to boast startup ecosystem in Iraq

2021-11-04 04:24

Shafaq News / Omar  Al-Handal (The Station), Bassam Falah (Innovest ME, Ruwwad Al Iraq), and Mohammed Khudairi (Iraq Tech Ventures), have joined hands together to form a new Iraq venture fund and the partnership is called Iraq Venture Partners (IVP).

IVP plans to invest in early-stage startups, from seed stage to series A. The fund will focus on the innovation and knowledge economy in Iraq, across several industries. Investments will be shared between new startups and follow-on investments.

“As some of the first investors in the Iraq ecosystem, we are excited that the timing is right for a fund.  There are many talented Iraqi entrepreneurs in need of capital, with few sources of funding available to them,” says Mohammed Khudairi of Iraq Tech Ventures.

Bassam Falah, CEO of Innovest Middle East adds, “Synergy has always been at the core of Innovest’s DNA. We believe the value-add that each of the IVP partners brings to the equation will form a unique  proposition that will cater to current critical needs of the Iraqi startup ecosystem.”

“We are confident in the potential of Iraqi startups. The fund will be a backbone for all the upcoming entrepreneurship opportunities in Iraq. We hope to shed more light on the distinctive startups that Iraq has to offer for potential investors,” says Omar Al-Handal, co-founder of The Station.

The IVP General Partners boast some of the leading names in the Iraq startup ecosystem, having participated in Iraq’s largest fundraising deals to date. They also have been integral in using their organisations to help establish deal flow and cultivate talent.

Source: My startup world

https://shafaq.com/en/Economy/New-Iraqi-venture-fund-IVP-to-boast-startup-ecosystem-in-Iraq