VC React Podcast (E8): VC Surge In July, Founders’ Harassment, Connected Founders, & Sunken Cost

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. Amal Dokhan, Managing Partner @ 500 Global
- LinkedIn Profile: https://www.linkedin.com/in/amaldokhan/ 
- VC Firm Website: https://500.co/ 

2. Hamed Masri, Partner @ Silicon Badia
- LinkedIn Profile: https://www.linkedin.com/in/hamed-masri-935b101/ 
- VC Firm Website: https://www.siliconbadia.com/ 

3. Issa Aghabi, Founder & Managing Director @ Access Bridge Ventures
- LinkedIn Profile: https://www.linkedin.com/in/iaghabi/  
- VC Firm Website: https://access-bridge.com/

In Today's Episode:

News of the week brought to you by FWDstart:

• MENA Start-up Investments Surge by 260% in July 2024, Reaching $355 Million
  Source: AGBI 
  Summary: Start-up funding in the Middle East and North Africa (MENA) region experienced a significant resurgence in July 2024, with investments totaling $355 million. This marks a 206% increase from the previous month and a 260% surge compared to the same period last year, according to data from Wamda and Digital Digest. A total of 38 start-ups secured funding, with Egypt leading in investment value at $185 million across seven deals. The UAE followed with 12 deals, while Saudi Arabia and Jordan also saw notable activity. Fintech emerged as the top sector, attracting $180.8 million, followed by Web 3, cleantech, deeptech, and e-commerce sectors.

• MealPlanet raises $6 million Seed led by MEVP
  Source: Wamda 
  Summary: UAE-based foodtech MealPlanet has secured $6 million in a Seed round, led by regional Middle East Venture Partners (MEVP), AlTouq Group, Sanabil 500, Faith Capital, and Alturki Ventures, as well as renowned entrepreneurs Marc Lore and Samih Toukan. Founded in 2024 by Khalid Baareh, MealPlanet is a meal plan delivery app connecting consumers to a wide range of brands. MealPlanet will use the recent funds to propel its regional expansion plans, starting with Saudi Arabia in the first quarter of 2025.

• Magic Leap seeks additional funds after big PIF investment
  Source: AGBI 
  Saudi Arabia’s Public Investment Fund has invested $750 million into technology and software developer Magic Leap since the beginning of 2023, strengthening its role as the majority owner. This year’s funding of $160 million builds on the sovereign wealth fund’s previous allocation of $590 million in 2023 facilitated through convertible debt arrangements, as detailed in Magic Leap’s UK filings. Florida-based Magic Leap develops devices, such as lightweight eyepieces and augmented reality headsets, and software for sectors such as healthcare, retail, sports and entertainment in the US.