Insure & Match Capital (IM Capital), a program funded by the United States Agency for International Development (USAID) and delivered by the Middle East and North Africa Investment Initiative (MENA II), announced today the graduation of Seeders Business Angels Class of 2016-17 and the launch of the Lebanese Women Angel Fund.The ceremony was held in the presence of MP/Minister Jean Oghassabian,U.S. Embassy Deputy Chief of Mission Mr. Danny Hall, USAID Mission Director Dr. Anne Patterson, Berytech Chairman Mr. Maroun Chammas, and IM Capital General Manager Dr. Nicolas Rouhana.In attendance were entrepreneurs, angel investors, venture capitalists, banks, private sector representatives, universities, Chambers of Commerce, incubators, accelerators, and key ecosystem stakeholders.
In his keynote address, Mr. Chammas noted,"With the graduation of successive classes of qualified investors supported through this program, the Lebanese financial ecosystem will benefit from the reduction of existing funding and knowledge gaps that startups have been struggling with.
The one-year training program, called the "Seeders Masterclass for Business Angels (MBA)"was kicked off in September 2016 in partnership with Go Beyond Investing. Through MENA II, the investors are provided a guarantee for 50% of their investments in order to reduce their risk and encourage investment in new Lebanese companies. "To date, the Seeders MBA program has generated$390,000 worth of new investment and Seeders Angels have made a joint decision to invest in four local startups from various sectors, contributing to job creation.Seeders MBA Class of 2017-18 will launch in September 2017, onboarding a fresh group that will feed into a sustainable and growing Seeders Network of Angel Investors" explained Dr. Nicolas Rouhana, General Manager of IM Capital.
The Lebanese Women Angel Fund (LWAF), a partnership between IM Capital and the Lebanese League for Women in Business (LLWB) and Go Beyond Investing, was also unveiled on July 7.The new fund will also utilize MENA II support to help early-stage women investors and women-led businesses in Lebanon access finance, contribute to job creation and ensure sustainable social development and economic growth.
For more information please check http://seeders.co and http://im-capital.com
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