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EQ2 Ventures is a venture capital organization established in 2020 as a spin-off from Equitrust, the corporate venture capital arm of the Dubai-based Choueiri Group. The firm operates as an evergreen investment vehicle, making investment decisions through an independent Investment Committee. Headquartered in Dubai, EQ2 Ventures aims to support innovative founders in emerging markets, particularly in the Middle East and Africa.
Since its inception, EQ2 Ventures has focused on early-stage startups, primarily investing at the Seed to Series A stages. The organization has a portfolio of 15 companies, reflecting its commitment to fostering growth in sectors such as e-commerce, fintech, and AI. The firm has established itself as a key player in the venture capital landscape of the region, leveraging its roots in corporate venture capital to provide strategic support to its portfolio companies.
EQ2 Ventures primarily invests in early-stage companies at the Seed to Series A stages, with the capacity to invest up to $3 million in follow-on rounds. The organization targets sectors including e-commerce, marketplaces, edtech, fintech, AI, and SaaS. Geographically, EQ2 Ventures focuses on the Middle East and Africa, seeking to support founders who are addressing global opportunities. The firm emphasizes investing in companies that tackle significant consumer and business challenges, aiming to foster sustainable growth and long-term value.
In addition to financial support, EQ2 Ventures adds value to its portfolio companies by leveraging a strong network of strategic investors and mentors. This network provides guidance and support to help entrepreneurs build sustainable companies and solve major consumer problems. The firm’s investment strategy is designed to empower entrepreneurs who are innovating in their respective sectors, ensuring that they have the resources and expertise needed to succeed.
EQ2 Ventures has built a diverse portfolio of 15 companies across various sectors. Notable portfolio companies include:
Patrick Thiriet: Chief Executive Officer. Patrick has extensive experience in venture capital and corporate finance, having previously worked with leading investment firms.
Manish Phulwani: Associate Director. Manish specializes in early-stage investments and has a background in technology and entrepreneurship.
Iman Beheiry: Head of Operations. Iman oversees the operational aspects of EQ2 Ventures, ensuring efficient processes and support for portfolio companies.
Rija Nadeem: Investment Analyst. Rija focuses on evaluating potential investments and supporting the investment committee's decision-making process.
Hosam Arab: Co-Founder of Tabby. Hosam brings expertise in fintech and consumer technology.
Noor Lozi: COO of Optima. Noor has a strong background in operations and scaling startups.
Joel Ayala: Partner at Class 5. Joel specializes in early-stage investments and has a track record of successful exits.
Elie Habib: CEO of OSN+ & Anghami. Elie has extensive experience in media and technology sectors.
Thomas Grynbaum: Former CEO of Olivianna London. Thomas brings insights from the luxury retail sector.
To pitch EQ2 Ventures, startups should visit their website at eq2ventures.com. The firm prefers pitches that include a clear overview of the business model, market opportunity, and growth strategy. Founders should be prepared for a detailed discussion about their plans and how they align with EQ2 Ventures' investment focus.
Response times may vary, but founders can expect to hear back after their initial submission. Warm introductions are encouraged, as they can facilitate the review process.
In March 2024, EQ2 Ventures led a $1.55 million seed extension round for Sukhiba Connect, a Kenyan startup focused on healthcare solutions. This investment was made in collaboration with Quona Capital, Accion Venture Lab, and Musha Ventures.
In February 2024, EQ2 Ventures co-led a KSh 180 million (approximately $1.4 million) Seed II round for Uncover, a Kenyan skincare and beauty products platform. This round included participation from IgniteXL Ventures, Chui Ventures, Samata Capital, and Altree Capital.
Since its establishment, EQ2 Ventures has made a total of 25 investments across its 15 portfolio companies, maintaining an average round size of $4 million and a deployment pace of approximately 3.12 rounds per year.
What are EQ2 Ventures' investment criteria?
EQ2 Ventures invests in early-stage companies at the Seed to Series A stages, focusing on sectors such as e-commerce, fintech, edtech, AI, and SaaS. The firm seeks to support innovative founders addressing significant consumer and business challenges.
How can startups apply or pitch to EQ2 Ventures?
Startups can pitch to EQ2 Ventures through their website at eq2ventures.com. The firm encourages entrepreneurs to present their business models and growth strategies clearly.
What makes EQ2 Ventures different from other venture capital firms?
EQ2 Ventures operates as an evergreen investment vehicle, allowing for flexibility in investment decisions. The firm leverages a strong network of strategic investors and mentors to provide additional support to its portfolio companies.
What is the geographic scope of EQ2 Ventures?
EQ2 Ventures primarily focuses on the Middle East and Africa, targeting early-stage startups in these emerging markets.
What is the typical check size for investments?
The firm can invest up to $3 million in follow-on rounds, with an average round size of approximately $4 million across its portfolio.
What kind of post-investment involvement does EQ2 Ventures have?
EQ2 Ventures provides ongoing support to its portfolio companies through mentorship, strategic guidance, and access to its network of investors and industry experts.
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