VC React Podcast (E9): Web3 Summer In MENA! Dirham StableCoin, Global Outlook, Alternative Financing

Aug 22, 2024

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VC React Podcast:

Every week, we bring you insights and reactions from top VCs, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations! Host: Ahmad Takatkah, VCpreneur. Sign up to VCpreneur Newsletter on ⁠https://www.vcpreneur.com/⁠ Co-Host: Jamie Lane, FWDstart. Sign up to FWDstart Newsletter on ⁠https://www.fwdstart.me/⁠

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Guests: 1. Arnav Danthi, Principal @ Nuwa Capital - LinkedIn Profile: https://www.linkedin.com/in/arnavdanthi/ - VC Firm Website: https://www.nuwacapital.io/ 2. Fatima Abdulla, Associate @ Plug and Play Tech Center - LinkedIn Profile: https://www.linkedin.com/in/fatimaabdulla93/ - VC Firm Website: https://www.plugandplaytechcenter.com/locations/riyadh #startups #vc #tech #ai #investments #entrepreneurship #venturecapital #venturedebt #privatecredit #privateequity #finance #business #ipo #acquisitions #limitedpartners #revenuebasedfinancing #fintech #climatechange #edtech #accelerator #cvc #web3 #crypto #blockchain #DeFi --- News of the week brought to you by FWDstart. In Today's Episode: - Gate Ventures and Abu Dhabi launch a $100m global Web3 innovation fund Source: Blockchain Technology News Summary: Singapore-based Gate Ventures, the VC arm of Gate.io, and the Blockchain Centre in Abu Dhabi have launched a $100 million fund to drive Web3 innovation in the coming years. The joint fund, Falcon Gate Ventures, will enable Gate Ventures and the Blockchain Centre to synergise their expertise and resources to help young talents from key regions, including the USA, Asia, Europe, and the MENA region. Falcon Gate Ventures is designed to advance decentralised infrastructure and applications and accelerate the adoption of pioneering technologies. - Kuwait’s Kem secures $3 million investment from Tether Source: Wamda Summary: Kuwait-based fintech Kem has raised a $3 million investment from Tether, bringing the total investment Kem raised to date to $4.5 million. Founded in 2021 by Seth Sadeq, Zane Chichua and George Chichua, Kem is a P2P instant payment platform that allows users to send one another money using a QR code and forgoes the need to generate payment links or use traditional accounts. - Mithu Raises USD 500K in Pre-Seed Funding from Adaverse Source: Waya Summary: Mithu, a Saudi Arabia-based loyalty platform aggregator focused on restaurants and cafes, has secured $500,000 in pre-seed funding from Adaverse, a prominent Web3 venture builder. - Phoenix Group and Tether Source: Crypto Politan Summary: Tether wants to launch a new stablecoin pegged to the United Arab Emirates (UAE) dirham (AED). The company announced the move today, noting that it will launch the new stablecoin in partnership with Green Arcon Investments Ltd and Phoenix Group PLC. - Pakistan’s PostEx to expand into GCC after securing $7.3 million pre-Series A Source: Tech Crunch Summary: Pakistan-based fintech PostEx has raised a $7.3 million pre-Series A funding round, led by Conjunction Capital, along with Dash Ventures, Sanabil500, VSQ, FJ Labs, and Zayn VC. Founded in 2020 by Muhammad Omer Khan, PostEx provides upfront payments to e-commerce businesses along with the provision of a reliable delivery network. - Resal Garners $9 Million Investment to Accelerate Growth within the Kingdom Source: Zawya Summary: Saudi Arabia-based e-gifting platform Resal has successfully closed a $9 million Series A investment round, led by Derayah Ventures Fund, with participation from Al-Wafrah AlThanya Investment Company, Venture Souq FinTech Fund, ADDiriyah Asset Management, Nomad Holdings, Bugshan Investment Group, and several family offices and angel investors.

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(أحمد طقاطقه)

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