{"id":704,"date":"2022-01-24T09:22:01","date_gmt":"2022-01-24T09:22:01","guid":{"rendered":"https:\/\/ibtikarfund.com\/?page_id=704"},"modified":"2022-01-24T09:23:01","modified_gmt":"2022-01-24T09:23:01","slug":"press-release-ibtikar-fund-announces-the-launch-of-its-second-venture-capital-fund","status":"publish","type":"page","link":"https:\/\/ibtikarfund.com\/2021\/press-release-ibtikar-fund-announces-the-launch-of-its-second-venture-capital-fund\/","title":{"rendered":"Press Release: Ibtikar Fund Announces the Launch of its Second Venture Capital Fund"},"content":{"rendered":"\t\t
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Ibtikar Fund Announces the Launch of its Second Venture Capital Fund<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tIbtikar Fund announces the first closing of its second fund targeting Palestinian founders throughout MENA. \n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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RAMALLAH, PALESTINE (24\/01\/2022)<\/strong> \u2013 On January 24, 2022, Ibtikar Fund announced the first closing of its second fund, Ibtikar Fund II CV, which will build on the momentum and success of its first fund. The first closing was at USD 15 million out of a target fund size of USD 30 million, nearly three times the size of Fund 1.<\/p>

Ibtikar\u2019s second fund will continue to invest in Palestinian tech startups based in Palestine, but will also be able to invest in Palestinian founders throughout the Middle East and North Africa (MENA). Investments will focus in early-stage companies (seed and pre-Series A) building scalable businesses targeting global or MENA markets.<\/p>

The fund is led by Managing Partners, Habib Hazzan and Ambar Amleh. The fund anchor investment is from the Bank of Palestine, represented by their Chairman, Mr. Hashim Shawa. This first closing also includes institutional investors including the Dutch Good Growth Fund, managed by Triple Jump BV and PwC, and International Finance Corporation, who are joined by numerous private and corporate investors from Palestine and the diaspora, as well as well-known international leaders in the regional and global tech and venture capital scenes.<\/p>

Ibtikar Fund 1 made early-stage investments in 26 startups, including\u00a0Mashvisor<\/a>, Gamiphy<\/a>, Kenz<\/a>, LogesTechs<\/a>, 360Moms<\/a>, and Tawazon<\/a>.<\/p>

As Managing Partner, Habib Hazzan explained, \u201cthrough Fund 1, we invested in various companies that are growing throughout the Middle East, Europe, and the Americas. We are excited that through Fund 2 we will be able to build on this momentum and provide much needed funding for the next wave of Palestinian startups. Our pipeline is strong and we look forward to announcing our first investments soon.\u201d<\/p>

\u201cWe are very proud that investors from Fund 1 have strongly invested in Fund 2– most of them have increased their investment amount, doubling down not only in our team, but also in the potential of Palestinian startups. We also look forward to continuing to fundraise and welcoming new investors in the coming year to reach our target of USD 30 million,\u201d said Mrs. Ambar Amleh, Managing Partner.<\/p>

\u201cVenture capital is critical to helping startups in West Bank and Gaza reach scale and compete both regionally and internationally,\u201d said Youssef Habesh, IFC\u2019s resident representative in the West Bank and Gaza. \u201cThat in turn could have a powerful impact on the local economy. Technology companies have the potential to become engines of job creation, which is key in a market where unemployment, especially for women and youth, is a challenge.\u201d
To learn more about Ibtikar Fund, you may visit our website www.ibtikarfund.com<\/a>.<\/p>

###<\/p>

MEDIA CONTACTS<\/p>

For Ibtikar:
Mr. Habib Hazzan (English and Arabic)
Managing Partner
Ibtikar Fund
+972-54-329-9073
habib@ibtikarfund.com<\/a><\/p>

Mrs. Ambar Amleh (English only)
Managing Partner
Ibtikar Fund
+970-56-850-1558
ambar@ibtikarfund.com<\/a><\/p>

For International Finance Corporation (IFC):
Ms. Sara Aggour
+20-100-335-1941
saggour@ifc.org<\/a><\/p>

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Ibtikar Fund Announces the Launch of its Second Venture Capital Fund Ibtikar Fund announces the first closing of its second fund targeting Palestinian founders throughout MENA. RAMALLAH, PALESTINE (24\/01\/2022) \u2013 On January 24, 2022, Ibtikar Fund announced the first closing of its second fund, Ibtikar Fund II CV, which will build on the momentum and … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-704","page","type-page","status-publish"],"_links":{"self":[{"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/pages\/704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/comments?post=704"}],"version-history":[{"count":4,"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/pages\/704\/revisions"}],"predecessor-version":[{"id":709,"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/pages\/704\/revisions\/709"}],"wp:attachment":[{"href":"https:\/\/ibtikarfund.com\/2021\/wp-json\/wp\/v2\/media?parent=704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}