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Iraq Venture Partners (IVP) is an early-stage venture capital firm established in November 2021 and headquartered in Baghdad, Iraq. Founded by three key figures in Iraq's startup ecosystem, IVP aims to provide essential capital and support to high-potential Iraqi startups and small to medium-sized enterprises (SMEs). The firm plays a crucial role in stimulating the local startup ecosystem and enhancing access to venture funding.
IVP has secured significant institutional partnerships, including collaborations with the International Finance Corporation (IFC) and the Netherlands government. These partnerships bolster its mission to address the funding gap faced by entrepreneurs in Iraq. The firm operates from multiple locations, including Baghdad, Erbil, and Dubai, allowing it to tap into various markets and resources.
As the first venture capital firm based in Baghdad, IVP is positioned to influence the growth of Iraq's innovation and knowledge economy. The firm has launched several funds, including the IVP Catalyst Fund, which focuses on seed and early-stage investments, and is preparing to launch the Gateway Fund in 2025, targeting later-stage startups.
IVP concentrates on investing in high-potential Iraqi startups and SMEs, with a particular emphasis on the technology sector. The firm targets investments at the pre-seed, seed, and Series A stages, with check sizes ranging from $250,000 to $1 million. This investment strategy is designed to support the growth of innovative companies that can contribute to Iraq's economic development.
The firm operates multiple funds, including the IVP Catalyst Fund, which is dedicated to seed and early-stage investments in Iraqi tech companies. Additionally, the Gateway Fund is set to launch in 2025, focusing on pre-Series A and Series A funding for later-stage startups. IVP also runs programs like Scale Iraq, which aims to enhance investment readiness among Iraqi entrepreneurs, thereby improving the overall startup ecosystem.
IVP's geographic focus is primarily on Iraq, with offices in Baghdad, Erbil, and Dubai. The firm seeks to address the severe funding gap for entrepreneurs in the region, making it a vital player in Iraq's nascent venture capital landscape.
Omar Al-Handal — Co-Founder and General Partner. He is also a co-founder of The Station, Iraq's first startup hub, bringing extensive experience in fostering entrepreneurship in the region.
Bassam Falah — Co-Founder and General Partner. He serves as the CEO of Innovest ME and Ruwwad Al Iraq, contributing significant expertise in investment and business development.
Mohammed Khudairi — Co-Founder and General Partner. He is a partner at Iraq Tech Ventures, with a strong background in technology investments and startup growth.
Hady El-Samra — Head of Investments and Programs. He oversees IVP's investment strategies and program initiatives, focusing on enhancing the startup ecosystem.
Nathalie Saouma — Business Controller. She manages financial operations and ensures compliance with investment regulations.
Laura Olivier — Deal Flow Manager. She is responsible for sourcing and evaluating potential investment opportunities.
Rafic Moharam — Accountant & Business Controller. He supports financial management and reporting for the firm.
Haneen Ammar Ahmed — Project Coordinator. She assists in managing various projects and initiatives within IVP.
To pitch Iraq Venture Partners, founders should visit their website at iraqventurepartners.com for submission guidelines. It is recommended to include a detailed business plan, financial projections, and information about the founding team in the pitch deck. IVP prefers warm introductions but will also consider direct applications through their website.
Response times may vary, but founders can expect to hear back within a few weeks after submission. Clear and concise communication is essential, as IVP values well-prepared pitches that demonstrate a strong understanding of the market and the startup's potential.
Iraq Venture Partners runs the Scale Iraq program, which is designed to improve investment readiness among Iraqi entrepreneurs. This initiative aims to support startups in scaling their operations and enhancing their business models.
Additionally, IVP is involved in the Orange Corners Innovation Fund (OCIF) Phase 2, which will launch in December 2024. This program, financed by the Netherlands government, will provide capital and mentorship to young Iraqi entrepreneurs, further strengthening the local startup ecosystem.
In November 2021, Iraq Venture Partners launched as the first early-stage venture capital firm in Baghdad, marking a significant milestone for the Iraqi startup ecosystem. The firm has since established partnerships with the International Finance Corporation (IFC) and the Netherlands government, enhancing its capacity to support local entrepreneurs.
In January 2024, IVP launched the Scale Iraq initiative in collaboration with IFC and Innovest Middle East, aiming to support 20 Iraqi startups with growth and automation. This program is part of the broader Scale Mashreq initiative by IFC.
Additionally, the Orange Corners Innovation Fund (OCIF) Phase 2, financed by the Netherlands, is set to launch in December 2024, with a budget of EUR 2.6 million. This fund will provide capital, mentorship, and network access to young Iraqi entrepreneurs.
What are the investment criteria for Iraq Venture Partners?
IVP invests in high-potential Iraqi startups and SMEs, particularly those in the technology sector. The firm focuses on pre-seed, seed, and Series A stages, with check sizes ranging from $250,000 to $1 million.
How can I pitch to Iraq Venture Partners?
Founders can pitch their startups by visiting the IVP website at iraqventurepartners.com. Interested parties can also reach out via email at Info@IraqVenturePartners.com.
What makes Iraq Venture Partners different from other VCs?
IVP is the first early-stage venture capital firm based in Baghdad, focusing specifically on the Iraqi startup ecosystem. The firm has established significant institutional partnerships, which enhance its ability to support local entrepreneurs.
What is the geographic scope of IVP's investments?
IVP primarily invests in startups located in Iraq, with offices in Baghdad, Erbil, and Dubai, allowing it to engage with a broader range of entrepreneurs and markets.
What kind of support does IVP provide to portfolio companies?
IVP offers various programs, such as Scale Iraq, which aims to improve investment readiness among Iraqi entrepreneurs. The firm also provides mentorship, access to networks, and resources to help startups grow.
What is the fund size of Iraq Venture Partners?
The specific fund sizes for IVP's investment vehicles have not been disclosed. However, the firm operates multiple funds, including the IVP Catalyst Fund and the Orange Corners Innovation Fund (OCIF) Phase 2, which has a budget of EUR 2.6 million.
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