VC React Podcast (E3): On Gov VC Mandates, India & MENA, Venture Debt, Market Stats in H1-2024

VC React Podcast:

Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!

Host: Ahmad Takatkah, VCpreneur.
Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/

Co-Host: Jamie Lane, FWDstart.
Sign up to FWDstart Newsletter on https://www.fwdstart.me/

Available on:

• Youtube: VC React Podcast

• Spotify: VC React Podcast

• Apple: VC React Podcast

• Amazon: VC React Podcast

Guests:

1. Youssef Shehab El-Din, Investment Analyst @ Falak Startups
- LinkedIn Profile: https://www.linkedin.com/in/youssef-shehab-el-din-443b451b4/
- VC Firm Website: https://falakstartups.com/

2. Zeina Mandour, Venture Investments Manager @ Dar Ventures
- LinkedIn profile: https://www.linkedin.com/in/zeina-mandour-38541260/
- VC Firm Website: https://dar.com/

In Today's Episode:

News of the week brought to you by FWDstart:

• Innovative Startups and SMEs Fund invests $5mln in Global Ventures Fund III
  Source: Zawya
  Summary: The Innovative Startups and SMEs Fund (ISSF), Jordan's largest investment fund of its kind, announced a USD 5 million investment in Global Ventures’ Fund III. A leading venture capital firm focused on growth-stage investments across the Middle East and Africa, Global Ventures has been mandated by ISSF to invest in Jordanian startups. This strategic partnership highlights the ISSF's commitment to empowering the Jordanian ecosystem.

• India Crypto Exchange CoinDCX Buys BitOasis in Middle East Expansion
  Source: Bloomberg
  Summary: Indian crypto exchange CoinDCX acquired Dubai-based BitOasis to expand into the MENA region. The acquisition, which follows an initial investment last year, aims to leverage BitOasis' established presence and regulatory licenses in the UAE and Bahrain. BitOasis has processed over $6 billion in trades and has more than 750,000 customers. CoinDCX sees this move as a response to favorable regulatory environments and aims to boost annual revenue by $30-$50 million​.

• Stride Ventures Makes First GCC Investment in Maalexi
  Source: Abu Dhabi SME Hub
  Summary: Stride Ventures has made its first investment in the GCC region by investing in Maalexi, a Dubai-based company. This move marks Stride's initial foray into the Middle East market, aligning with its strategy to support high-growth startups globally. Stride Ventures, known for its venture debt funds, aims to facilitate the entry of Indian and other global startups into the GCC region, leveraging Abu Dhabi Global Market's (ADGM) supportive regulatory environment​

• MENA startups raise $116 million in June 2024, bringing H1 total to $882 million
  Source: Wamda
  Summary: In June 2024, investment in MENA startups slowed, with 38 tech startups raising $116 million, a 59% month-on-month drop but a 182% year-on-year increase. UAE startups led with $82.5 million across 15 deals, followed by Egypt with $15 million from four startups, and Saudi Arabia with $13.5 million from seven startups. Iraq saw six startups raise around $1.2 million, potentially more. The largest deal was Tenderd’s $30 million, with no mega deals observed during the month. The half-year total reached $882 million.

• MENA VC landscape sees 33% increase in investors
  Source: Arab News
  Summary: In the first half of 2024, investor numbers in the MENA venture capital ecosystem rose by 33%, driven by increased sentiment which led to a 130% rise in the number of funds launched, according to MAGNiTT. Despite this, funding for regional startups fell by 34% year-on-year, totaling $768 million.