Vesquad develops yet another operational VC. This time in Libya!
At Vesquad, we are really excited to announce that we have an amazing challenge in front of us. A challenge that will allow us to deliver upon our vision and actively support the venture builders of this world. This time we have one additional reason to be thrilled since we are asked to serve some of the most underrepresented founders in one of the most underserved markets of the world.
Through an international tender, Vesquad was awarded to lead the activities of designing and supporting the establishment of the first-ever VC in Libya.
This initiative is part of an EU-funded project in Libya, implemented by the French international development agency Expertise France. It is an initiative that involves a leading financial institution in Libya, the Tadawul Group, led by a prominent Libyan banker and investor Mr. Naaman Elbouri.
This early-stage VC fund will allow promising Libyan startups to access venture capital funding for the first time ever without incurring debt on their balance sheets that have to be repaid regularly.
Vesquad is responsible for setting up the structure and providing end-to-end support that will enable the fund to become an operational VC. Besides the operational capability, our team will be serving the entrepreneurs in a very direct and agile way.
From day one, we had the ambition to actively support the venture builders of this world. Setting up the first-ever VC in Libya is a natural evolution for us and brings us one step closer to our north star.