Investment Thesis
By the time everyone agrees that a company is exceptional, much of the opportunity has already been priced in. What matters is seeing something others may not yet see: a founder with unusual conviction, a market moving in the right direction.
Early-stage investing is different from growth investing. There are no revenue multiples to anchor a valuation. There is no category consensus to anchor a thesis. What matters is seeing something others may not yet see.
We spend most of our time with founders, understanding their thinking, their markets, their resilience. The company they are building will change. The person building it is the most stable variable.
Pre-Seed
$100K to $500K
We invest when founders are still proving the first version of their idea. We care most about the quality of the insight, the people, and the size of the opportunity.
Seed
$500K to $2M
We look for early evidence the company is working, whether through customers, revenue, retention, usage, distribution, or another meaningful signal the market is responding.
Series A
$2M to $5M
We selectively back companies that have moved beyond experimentation and are beginning to demonstrate a repeatable, scalable business model.
Follow-On
Pro-rata Rights
When our companies continue to execute, we may continue investing. We want our interests aligned with the long-term success of every business we back.
Artificial Intelligence
Companies using AI to create real competitive advantages, not simply adding AI to an existing product. We look for durable moats built on proprietary data, workflows, or distribution.
ML infrastructure · Vertical AI · Agentic systems
Fintech & Financial Infrastructure
Changing how individuals and businesses move, access, manage and understand money, especially where technology unlocks underserved markets across the MENA region.
Payments · Lending · Embedded finance · B2B SaaS
Healthcare & Life Sciences
Technology improving healthcare delivery, diagnostics, biotechnology, longevity and the infrastructure supporting better outcomes across rapidly growing Gulf populations.
Digital health · Diagnostics · Longevity · Pharmatech
Enterprise Technology
Software that removes friction. Automation that changes how businesses operate. Infrastructure that enables entirely new products to be built in shorter timeframes.
SaaS · Developer tools · Workflow automation · APIs
Consumer
Products people actually want to use, combining product, distribution, brand and community in ways that become difficult to replicate once a flywheel has formed.
Creator economy · Social · Marketplace · Community
Climate, Energy & Frontier
Infrastructure becoming more efficient and resilient, and companies operating outside these categories where the founders and opportunity are exceptional enough to warrant conviction.
Cleantech · Energy transition · Deep tech · Space
The Founder
We look for people who are unusually driven, not just charismatic or intelligent, but people who keep going when the obvious answer is to stop. We pay as much attention to how a founder thinks as to what they are currently building.
The Insight
Why this company? Why now? The best companies begin with an insight that seems obvious only after someone has discovered it. We want to understand the specific observation that gave rise to the business.
The Market
We want companies that can become large. The opportunity should be capable of supporting a substantial business, not simply a successful small one. We look for categories with structural tailwinds.
The Advantage
Technology, data, distribution, network effects, brand, community. What becomes harder to copy as the company grows? There should be one clear answer, with a credible path to making it stronger over time.
The Timing
Sometimes a great company is simply too early. Sometimes the market has finally caught up. We pay close attention to timing and to what specifically has changed to make this moment the right one.
The Geography
We are particularly interested in companies building a presence across the Gulf, but our investments can begin anywhere in the world. What matters is whether a company can grow substantially, regardless of where it starts.
The GCC has emerged as one of the most important emerging technology markets in the world. Sovereign wealth, regulatory modernisation, and a young, digitally-native population are converging in ways that create enormous opportunity for early-stage companies.
We invest from this base, with the relationships, regulatory understanding and operator knowledge to give founders a real advantage in the region, while maintaining the global perspective that the best companies demand.
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