New fund good news for young MENA region tech companies

Oct. 16, 2011 - PRLog -- Genius Ventures today announces the setup of GVF1, a $10 MENA Region Venture Capital Tech Fund. The Ivy League team involved is betting on imminent and substantial regional growth by filling a vast demand.

Based in Cairo, with representation in Dubai and Doha, Genius Ventures provides capital, value-added insight, and support for early stage tech companies in the MENA region.

"The MENA region is brimming with ideas and entering a golden age of innovation. Countries such as Egypt are enjoying an influx of highly dynamic expats, emergent technologies, unwavering motivations, and growing needs. However, the venture capital market remains quite fragmented leading to significant opportunities in tech." explains Mr. Shareef Batata, Genius Ventures Board Director.
   
According to Zawya Private Equity Monitor "Arab private equity funds raised US$5 billion in 2008, of which only US$72 million (approx 1%) was allocated to venture capital funds." Looking at Egypt as a microcosm, a country of 80 million is serviced by only two serious technology VC firms that have raised under $150 million in combined capital in the past decade.

Genius Ventures intends to take advantage of this opportunity through GVF1 explains Mr. Karim Elsahy, Genius Ventures Founder and CEO

"With a combined team resume that includes over a dozen startups founded, degrees from MIT, Wharton, Harvard, and Columbia, over $5 billion invested, a century of relevant experience, several dozen boards served, and an unparalleled understanding of the region, we are excited, confident, and ready to fill a huge regional void."

For more information please visit: www.Genius.VC
Or contact: im@Genius.VC

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Genius Ventures provides capital, value-added insight, and support for early stage tech companies in the MENA region.