Middle East Venture Partners (MEVP) today introduced that Mohamed Alabbar has obtained a large stake in the company to produce one of the leading financial backing financial investment platforms Middle East and North Africa (MENA) region.
MEVP is one of the largest venture capital firms in the MENA region with an established track-record by co-founders Walid Hanna, Walid Mansour and Rabih Khoury. Along with Alabbar, MEVP will certainly partner with arising local champions in order to help expand them into sustaining regional services. This investment becomes part of Alabbar's strategy to increase the region's digital economic situation and complies with a series of innovative tech campaigns led by him.
Alabbar claimed: "I am delighted to acquire a stake in MEVP and to partner with its established VC investment team on this long-lasting journey of finding the region's future innovators and technology business owners. While protecting MEVP management's operational self-reliance, we will certainly extend support to young and arising digital entrepreneurs with development resources, critical recommendations, and operational assistance, and help them become sector leaders, regionally and beyond. We are fortunate to be building the future of the digital economic climate in a region that has all the basics for success. The equity capital field will certainly take the lead in preparing the region's services to develop and remain relevant through this digital transformation."
Walid Hanna, MEVP Founder and Managing Partner, included: "We are recognized to be part of Mohamed Alabbar's broader plans for the region's digital industry, as his financial backing innovation investment partner. This is an exciting day for MEVP and is a testament to our unique ability and proven track-record in recognizing and funding MENA market leaders. This investment reiterates MEVP's reputation as the VC regional leader. By combining Alabbar's vision with our team's VC experience, we will certainly provide regional start-ups greater possibilities to gain from inevitable digital interruptions.