VC React Podcast (Episode #20)

In this week's episode, we started with Eyewa’s $100M Series C to scale its eyewear footprint across the Mideast. Already operating 150 stores, the Dubai and Riyadh-based startup plans to add 100 more. We debated whether this is a traditional private equity play masquerading as venture capital and explored how the founders’ Bain consultancy background helped them navigate the eyewear market. Will Eyewa’s story end with an acquisition — or IPO?

Next, we covered giftee’s acquisition of YOUGotaGift in a $26.6M deal. This marks MEVP’s second exit of the year and shores up its fund DPI to 118%. We asked whether smaller exits like this are good for the ecosystem and debated if MENA VCs will shift focus to early exits — or if 2025 will finally be the year of IPOs.

Then, we explored Saudi’s $81.5M gaming fund by Merak Capital, part of the Kingdom’s Vision 2030 push to become a global gaming hub. Alongside this, ISSF’s $5M backing of Vision Ventures’ $90M seed fund sparked a bigger question: will 2025 see more of these large, sector-specific funds, or is the trend heading toward smaller, specialised ones?

Finally, we discussed Watercycle Technologies and Locad entering MENA, driven by $5.6M and $9M fundraises, respectively. Both are betting big on the region, with a focus on sustainability and logistics. Can MENA maintain this momentum and become a true hub for international startups in 2025?

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This week Ahmad and I had the pleasure to be joined by:

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Aboudi Al-Qattan (Principal @ DASH Ventures)

Jamil Shinawi (Founding Partner @ Actual VC)

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We covered:

📌 eyewa now has 150 stores selling eyeglasses in the Mideast, and just raised $100M to add 100 more

📌 Japan’s giftee acquires 91% stake in Dubai’s YOUGotaGift, and How Middle East Venture Partners (MEVP)was transparent on its returns.

📌 Saudi’s Merak Capital launches $81.5m gaming fund

📌 Saudi’s Merak Capital launches $81.5m gaming fund

📌 Jada Fund of Funds Backs SEEDRA Ventures Fund II

📌 ISSFJO - Innovative Startups and SMEs Fund Fund (ISSF) Invests $5 M in Saqr Fund II of Vision Ventures (VV)

📌 Watercycle Technologies enters MENA after securing $5.6 million Series A

📌 Locad Targets The Middle East After $9 Million Fund Raise

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