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MEVCA Announces Official Commencement of Activity
Following an inaugural board meeting on January 22, 2018, the formation of the Middle East Venture Capital Association (MEVCA) was finalized, and the association announced its official commencement of activity.
Chaired by Noor Sweid, a veteran VC, MEVCA provides a platform that enables the ecosystem to share best practices and enhance collaboration and development of venture capital in the region. The association will act as a catalyst for further growth, encouraging more venture-backed companies in the region, as well as enhanced access for SMEs and other organizations looking to raise capital.
The board of MEVCA includes some of the regions leaders in the venture capital space such as Algebra Capital, BECO Capital, Jabbar Internet Group, MEVP, Silicon Badia, Valia Investments, VentureSouq, Womena, Y Ventures, Faith Capital, STV, and Raed VC.
Together, the board aims to establish regional best practices through regular and reliable research, the issuing of white papers on the VC and entrepreneurial ecosystems, and increasing the frequency of venture capital industry meetings.
To further ensure their connectivity to the entrepreneurial and SME community, MEVCA has also cemented partnerships with Endeavor, the National Venture Capital Association (US) and Arabnet.
“MEVCA aims to focus the trajectory of the region’s venture capital and enhance intra-sector communication and support functions. The association, with a mandate of furthering the growth of venture-backed companies in the region through increased high-level systemization and standardized practices, aims to protect the interests of both capital firms and investee companies alike,” said Sweid remarking on the development.
MEVCA will hold frequent gatherings and events that address a variety of issues and concerns, and will also focus on education in the VC space. The association’s first event will be staged next week on February 19th, 2018 at The Dubai Future Accelerator in Emirates Towers, and will be headlined by Sunil Nagara, Bessemer former partner, in a fireside chat.