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Venture Capital
becocapital.com

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Investments

55

Portfolio Exits

5

Funds

2

About BECO Capital

BECO Capital helps founders of small companies in the Middle East fulfill true potential. BECO gives companies two vital ingredients needed in early development stage: growth capital and hands-on operational mentorship. BECO Capital invests from as little as $250,000 up to $2M in a single round, typically taking the role of lead investor and are open to working with co-investment partners. The company must have early adopter users and preferably some revenues, even if not substantial.

BECO Capital Headquarter Location

Office 1902, Grosvenor Business Tower PO Box 333357

Dubai,

United Arab Emirates

+971 4 368 7811

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Expert Collections containing BECO Capital

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find BECO Capital in 1 Expert Collection, including MENA investors.

M

MENA investors

270 items

This is a collection of investors based in the Middle East and North Africa (MENA) that are active in the private markets globally as well as regionally, and we focus particularly on investors that have a history of backing private technology companies.Including: venture capital

Research containing BECO Capital

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned BECO Capital in 1 CB Insights research brief, most recently on Dec 6, 2019.

Latest BECO Capital News

Top backer of Dubai app Fetchr warns startup faces liquidation

Oct 7, 2021

Fetchr was valued at almost $300m in a 2017 fundraising round October 7, 2021 Dubai courier app Fetchr, once among the Middle East’s most promising startups, is considering filing for liquidation after becoming “insolvent” because of a disputed tax bill in Saudi Arabia, according to one of its top investors. It would be Fetchr’s second brush with bankruptcy after the logistics firm nearly went under around the end of 2019 but staved off collapse through an emergency funding package and a turnaround plan that involved expanding in Saudi Arabia. Fetchr was valued at almost $300m in a 2017 fundraising round. Fetchr was still trying to complete its rescue fundraising when the Saudi tax authority imposed a $100m bill last summer for unpaid value-added tax and zakat, an Islamic levy, according to a letter sent recently by venture capital firm BECO Capital, a major backer of the startup, to its own investors. The company is now “insolvent,” and an extraordinary general meeting is scheduled for September 29 “to discuss the best course of action forward,” according to the letter. “This act scared off all new investors including the current shareholder investor base,” Dubai-based BECO said. “As there doesn’t seem to be a way out, liquidation is also on the table.” Saudi Arabia’s Zakat, Tax and Customs Authority, BECO Capital and Fetchr didn’t immediately respond to requests for comment. Scaling Back Fetchr’s demise would be a setback for the Gulf’s fledgling startup scene just as global investors including SoftBank Group Corp. are starting to commit funding to the region. The Dubai company, which offers delivery and logistics services to e-commerce firms, last year brought in new management, closed its operations in three Arab countries and cut about 1,230 jobs as part of a plan to turn it around. BECO said Fetchr’s board and management unsuccessfully tried to resolve the tax situation. Competition and weaker economic growth have in the past tripped up several e-commerce startups in the region. Baby products online seller Sprii and fashion startup The Modist both shut down despite raising millions in capital. Another Dubai-based platform Awok.com announced its closing last year. Tags

BECO Capital Investments

55 Investments

BECO Capital has made 55 investments. Their latest investment was in MaxAB as part of their Series A - II on August 8, 2021.

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BECO Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/25/2021

Series A - II

MaxAB

$15M

No

5

7/15/2021

Seed VC

Taager

$6.4M

Yes

4DX Ventures, Breyer Capital, Raed Ventures, and Undisclosed Investors

4

7/6/2021

Series A

MaxAB

$40M

No

4

4/21/2021

Series A

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$99M

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10

4/21/2021

Series B

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$99M

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10

Date

8/25/2021

7/15/2021

7/6/2021

4/21/2021

4/21/2021

Round

Series A - II

Seed VC

Series A

Series A

Series B

Company

MaxAB

Taager

MaxAB

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Amount

$15M

$6.4M

$40M

$99M

$99M

New?

No

Yes

No

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Co-Investors

4DX Ventures, Breyer Capital, Raed Ventures, and Undisclosed Investors

Sources

5

4

4

10

10

BECO Capital Portfolio Exits

5 Portfolio Exits

BECO Capital has 5 portfolio exits. Their latest portfolio exit was Swvl on July 28, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

7/28/2021

Acq - Pending

$991

6

00/00/0000

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$991

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10

00/00/0000

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10

00/00/0000

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10

00/00/0000

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10

Date

7/28/2021

00/00/0000

00/00/0000

00/00/0000

00/00/0000

Exit

Acq - Pending

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Companies

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Valuation

$991

$991

Acquirer

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Sources

6

10

10

10

10

BECO Capital Fund History

2 Fund Histories

BECO Capital has 2 funds, including BECO Capital II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/1/2019

BECO Capital II

Early-Stage Venture Capital

$100M

5

BECO Capital

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$99M

10

Closing Date

10/1/2019

Fund

BECO Capital II

BECO Capital

Fund Type

Early-Stage Venture Capital

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Status

Amount

$100M

$99M

Sources

5

10

BECO Capital Team

4 Team Members

BECO Capital has 4 team members, including current Founder, Managing Partner, Dany Farha.

Name

Work History

Title

Status

Dany Farha

Bayt.com, Intercat-Cateriya, and Lehman Brothers

Founder, Managing Partner

Current

Amir Farha

Founder

Current

Alvaro Abella

Managing Partner

Current

Yousef Hammad

Managing Partner

Current

Name

Dany Farha

Amir Farha

Alvaro Abella

Yousef Hammad

Work History

Bayt.com, Intercat-Cateriya, and Lehman Brothers

Title

Founder, Managing Partner

Founder

Managing Partner

Managing Partner

Status

Current

Current

Current

Current

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