Hatcher announces new seed and Series A funding for MENA startups

Hatcher, the Singapore-based ‘B2B venture builder’ connecting startups in emerging markets with investors, is looking to “double down,” as stated in a press release, on its Middle East and North Africa interests. “At least a third” of a newly announced $100 million venture fund targeting fin-tech and IT startups will likely go to businesses in the MENA, according to Investment Relations Manager Cassandra Seet.

Further, this year the company will be launching a Beirut-based affiliate, alongside new offices in seven other cities worldwide, to invest in and provide mentorship and connections for earlier stage Lebanese companies. Like Hatcher’s current Singapore and Dubai affiliates, the new Beirut branch will be looking to invest $100,000 – $500,000 seed rounds in early stage tech-focused companies, said CEO John Sharp on a call with Wamda. As for the total amount of the fund, “we’ll have more information in a few months, but we raised $50 million in Singapore and invested it in about two years. That’s a similar market size to Lebanon,” he said, “so we can expect similar numbers.”

“Once the early stage companies have a minimum viable product, the Beirut affiliate will refer them to the [$100 million Hatcher Fund] which may then make a Series A or Series B investment,” the CEO said.

Original article by Stephanie d’Arc Taylor

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Hatcher announces new seed and Series A funding for MENA startups