VentureSouq MENA FinTech I’s $50 Million Fundraising

Latham & Watkins and Walkers advised VentureSouq on the deal.

VentureSouq (VSQ), a GCC-based venture capital firm, announced the launch of MENA Fintech Fund I, the region’s first sector specific fund focused on Fintech across the Middle East & North Africa (MENA) region, and Pakistan.

The US$50 million fund invests in early-stage Fintech and SaaS companies and focuses on key subsectors including payments infrastructure, alternative credit, digital banking, PropTech, InsurTech and personal financial management, working closely with innovative regional entrepreneurs that are disrupting the financial services sector.

VentureSouq MENA FinTech I is backed by ADQ’s venture platform, Mubadala Investment Company, Jada Fund of Funds, Saudi Venture Capital Company (SVC), Al Waha Fund of Funds, and the UAE’s DisruptAD, as well as multinational conglomerates.

The Latham team was led by Dubai counsel Eyad Latif (Picture) and London partner James McCrory with London associates Thea Crawshaw and Joshua Oyedele and Dubai associates Omar Maayeh and Connie Leung. 

The Walkers’ team was led by Dubai Partner Tom Cochrane with support from Associate Reghard Smith.

Involved fees earner: Thea Crawshaw – Latham & Watkins; Eyad Latif – Latham & Watkins; Hong Ni Leung – Latham & Watkins; Omar Maayeh – Latham & Watkins; James McCrory – Latham & Watkins; Joshua Oyedele – Latham & Watkins; Tom Cochrane – Walkers Global; Reghard Smith – Walkers Global;

Law Firms: Latham & Watkins; Walkers Global;

Clients: VentureSouq;