Wamda plans $250 mln entrepreneurship fund for MENA

Wamda, a regional organisation supporting entrepreneurship, is planning to launch a $250 million investment fund designated to invest in entrepreneurship projects in the Middle East region.

The new fund will invest in both technology and non-technology focused companies including technology sub-sectors such as e-commerce, information technology, mobile applications, and internet services, said Wamda’s executive chairman Fadi Ghandour on the sidelines of the World Economic Forum in Jordan.

Wamda launch earlier in 2015 its regional growth stage $70 million investment fund, Wamda MENA Ventures I, the largest of its kind in the MENA region to date. The International Finance Corporation (IFC) a member of the World Bank Group, the Abraaj Group, Crescent Enterprises, and Zain Group have contributed to the fund’s capital.