Global Ventures, a Dubai-based venture capital fund, has been selected as a member of Draper Venture Network’s DVN Beta program. Global Ventures will be the MENA region’s only member fund in the Draper Network, an alliance which unites over 20 leading VC funds from tech hubs across the world.
Global Ventures is led by Noor Sweid and Basil Moftah, who hold decades of experience investing, scaling and successfully exiting businesses by IPO and private sales. Recent investments made by Global Ventures include Lunch:ON, HolidayME, Kitopi, ArrowLabs and CDP to name a few.
Draper Venture Network (DVN), formed by well-renowned venture capitalist Tim Draper, currently consists of over 20 venture capital funds that operate in 60 cities globally and collectively manage $2 billion in assets under management. Specifically, the DVN Beta Program focuses on supporting high potential VCs, and acts as a global alliance of independent venture capital firms to cooperate on investment diligence, market intelligence, investor relationships, and beyond.
As part of this strategic alliance, Global Ventures will gain further exposure to some of the world’s best investors and investment infrastructure, thereby amplifying its network of capital and expertise to add exponential value to its portfolio of high growth, enterprise tech companies. This enables the fund to grow even further as a truly unique VC firm in MENA – one that exists at the intersection of enterprise tech, innovation, and global scalability.
“We are thrilled to bring in Global Ventures as a member of the DVN<>Beta program, another testament to our renewed commitment to the Middle East. We believe Global Ventures’ governance is world-class, and their growth strategy fits the needs of the booming MENA venture market. We look forward to working closely with the team and their portfolio companies going forward,” said Tim Draper, Founder of DVN.
“We are humbled and incredibly excited to be selected as a member of the Draper Network. This collaboration will generate the highest value creation for our MENA-based founders, enabling them to scale and grow their companies in the fastest and best manner, all the while serving as a unique source of deal flow to the global DVN ecosystem”, said Noor Sweid, General Partner at Global Ventures.