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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 prominent figures in Iraq's startup ecosystem, IVP aims to provide capital and support to high-potential Iraqi startups and small to medium-sized enterprises (SMEs). The firm seeks to stimulate the local startup ecosystem and enhance access to venture funding, addressing a significant funding gap for entrepreneurs in the region.
IVP operates multiple funds, including the IVP Catalyst Fund, which focuses on seed and early-stage investments. The firm has also secured institutional partnerships with the International Finance Corporation (IFC) and the Netherlands government, enhancing its capacity to support local entrepreneurs. As of now, IVP has established offices in Baghdad, Erbil, and Dubai, positioning itself strategically to tap into the growing innovation and knowledge economy in Iraq.
IVP primarily invests in high-potential Iraqi startups and SMEs, with a strong emphasis on the technology sector. The firm targets investments at the pre-seed, seed, and Series A stages, with check sizes ranging from USD 250,000 to USD 1 million. The IVP Catalyst Fund is dedicated to seed and early-stage investments, while the upcoming Gateway Fund, set to launch in 2025, will focus on later-stage startups seeking pre-Series A and Series A funding.
IVP's investment strategy is designed to address the severe funding gap in Iraq, particularly for technology-driven ventures. The firm actively seeks to improve investment readiness among Iraqi entrepreneurs through initiatives like Scale Iraq, which aims to enhance the overall startup ecosystem. IVP's geographic focus is primarily on Iraq, with a mission to foster innovation and growth within the local market.
While specific portfolio companies of Iraq Venture Partners are not detailed on their website, the firm is actively involved in various initiatives to support the Iraqi startup ecosystem. IVP's investment strategy emphasizes high-potential Iraqi startups and SMEs, particularly in the technology sector. The firm’s involvement in programs like Scale Iraq indicates its commitment to nurturing local talent and fostering growth within the startup community.
IVP's funds, including the IVP Catalyst Fund and the Orange Corners Innovation Fund (OCIF), are designed to provide capital and support to emerging entrepreneurs. The OCIF, financed by the Netherlands government, has a fund size of EUR 2.6 million and aims to support young Iraqi entrepreneurs with capital, mentorship, and network access. This focus on supporting local startups positions IVP as a key 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 the local startup ecosystem.
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 entrepreneurship.
Mohammed Khudairi — Co-Founder and General Partner. He is a partner at Iraq Tech Ventures, with a strong background in supporting technology startups.
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, responsible for financial oversight and management within the firm.
Laura Olivier — Deal Flow Manager, tasked with sourcing and evaluating potential investment opportunities.
Rafic Moharam — Accountant & Business Controller, managing financial operations and reporting.
Haneen Ammar Ahmed — Project Coordinator, supporting various initiatives and programs within IVP.
To pitch Iraq Venture Partners, founders should visit their website at iraqventurepartners.com for more information. The firm prefers pitches that include a clear overview of the business model, market opportunity, and team background. Founders are encouraged to provide detailed financial projections and a roadmap for growth.
IVP does not specify a formal application form but welcomes inquiries via email at Info@IraqVenturePartners.com. Response times may vary, but founders can expect to hear back within a few weeks. Warm introductions are beneficial but not mandatory.
Iraq Venture Partners runs the Scale Iraq program, which aims to improve investment readiness among Iraqi entrepreneurs. This initiative is part of the broader IFC Scale Mashreq program and focuses on supporting startups with growth and automation.
Additionally, IVP will implement the Orange Corners Innovation Fund (OCIF) Phase 2, which is financed by the Netherlands government. This fund will provide capital, mentorship, and network access to young Iraqi entrepreneurs starting in December 2024.
In January 2024, Iraq Venture Partners launched the Scale Iraq initiative in collaboration with the IFC and Innovest Middle East. This program aims to support 20 Iraqi startups with growth and automation.
In December 2024, IVP will launch the Orange Corners Innovation Fund (OCIF) Phase 2, a EUR 2.6 million fund financed by the Netherlands government, designed to support young Iraqi entrepreneurs with capital and mentorship.
IVP has been featured in various media outlets, including Wamda and Iraq Business News, highlighting its role in enhancing the Iraqi startup ecosystem.
What are Iraq Venture Partners' investment criteria?
IVP focuses on high-potential Iraqi startups and SMEs, particularly in the technology sector. The firm invests at the pre-seed, seed, and Series A stages, with check sizes ranging from USD 250,000 to USD 1 million.
How can I apply or pitch to Iraq Venture Partners?
Founders can pitch to IVP through their website at iraqventurepartners.com. Interested parties can also reach out via email at Info@IraqVenturePartners.com for inquiries.
What makes Iraq Venture Partners different from other VCs?
IVP is the first early-stage venture capital firm based in Baghdad, focusing exclusively on the Iraqi market. The firm has established significant institutional partnerships with the IFC and the Netherlands government, which enhances 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. The firm is dedicated to addressing the funding gap for entrepreneurs in the region.
What is IVP's post-investment involvement like?
IVP is actively involved in supporting its portfolio companies through various initiatives, including mentorship and access to networks. Programs like Scale Iraq are designed to improve investment readiness among entrepreneurs.
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