VC React Podcast (Episode #21)

In this week's episode of the VC React Podcast we returned from our New Year’s break with a packed agenda: two major IPOs, three headline-grabbing funding rounds, and a number of newly launched VC funds and accelerators. We also reviewed MAGNiTT’s 2024 VC activity report, exploring key takeaways and predictions for MENA’s startup ecosystem for the year ahead.

We started with the public markets, where talabat’s IPO on the Dubai Financial Market raised AED 7.5B, marking the largest global tech IPO of 2024. Meanwhile, NICE ONE | نايس ون (KSA) surged 30% on its Tadawul debut, with founders retaining 74% ownership.
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Next, we explored notable funding rounds. Calo Inc. raised $25M in its Series B, targeting GCC expansion and aiming for an IPO by 2027. CredibleX secured $55M to enhance SME lending in the UAE, and Zension Technologies Inc. closed a $30M Series A to scale its warranty and buyback services in KSA.

We also reviewed MAGNiTT’s 2024 VC Activity Report, highlighting some key takeaways, and what we can expect in the year ahead.

On the LP front, we highlighted SVC’s significant investments, including $250M into Aliph Capital Fund I, $400M into Jadwa Investment’s GCC Private Equity Fund I, $150M into Middle East Venture Partners (MEVP) Fund IV, $159M into RAED Ventures Fund III, and $150M into Global Ventures Fund III.

Finally, we covered multiple new launches on the VC side of things. Iliad Partners introduced a $50M fund focused on B2B fintech and proptech, Sigma Capital launched a $100M fund targeting Web3 innovation globally, and 100Unicorns unveiled a $200M India-UAE growth fund. Additionally, the Sanabil Investments Accelerator announced $100K funding to support early-stage startups.

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

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Ian Arden, Co-founder and GP @ Mempool Ventures‍

Latifa BaNasr, Founding Principal @ Sharaka Financial‍

Philip Bahoshy, Founder & CEO @ MAGNiTT
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We covered:

📌 Talabat raises AED 7.5B in record-breaking DFM IPO

📌 NICE ONE | نايس ون surges 30% on Tadawul debut

📌 Calo raises $25M for GCC expansion and future IPO

📌 CredibleX closes $55M Series B to boost SME lending

📌 Zension raises $30M for warranty and buyback services in KSA

📌 SVC backs five major VC funds

📌 Iliad, Sigma, and 100Unicorns launch new funds

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