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Investments

6

Partners & Customers

1

About DisruptAD

DisruptAD is the venture capital platform of investment firm ADQ.

DisruptAD Headquarter Location

Abu Dhabi,

United Arab Emirates

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Latest DisruptAD News

VentureSouq launches $50 million fund

Nov 21, 2021

VentureSouq launches $50 million fund GCC-based VC firm VentureSouq has launched the $50 million Mena FinTech Fund I, aiming to invest in early-stage fintech and SaaS companies across the Middle East & North Africa and Pakistan region (MENAP). The fund is backed by the Saudi Venture Capital Company (SVC) and the Jada Fund of Funds, Bahrain’s Al Waha Fund of Funds, UAE’s DisruptAD, ADQ’s venture platform, and Mubadala Investment Company, alongside OFC, the Middle East investment arm of The Olayan Group. The fund has already deployed capital into fintech startups across Mena and Pakistan, including Tabby, Sary Baraka and Creditbook. Founded in 2016 by Suneel Gokhale, Maan Eshgi, Sonia Gokhale, Tammer Qaddumi and Sonia Weymuller, VentureSouq is a GCC-based venture capital firm focused on early-stage tech investments. It operates in the UAE, Egypt and Saudi Arabia with over $100 million in assets under management. Press release: GCC-based venture capital firm VentureSouq (VSQ) announced the launch of its Mena FinTech Fund I, the region’s first sector-specific fund focused on fintech across the Middle East & North Africa and Pakistan region (Menap). The $50 million VentureSouq 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 financial services. VentureSouq General Partner Suneel Gokhale commented on the new fund: “Prior to the  Mena fintech fund, we were early investors alongside some of the biggest global VCs in a number of fintech companies, including high-profile ones such as Jeeves, Khatabook, Belvo, FamPay, Vouch, Point, Atomic and Fondeadora. In 2020, we started to reflect on what fintech adoption in the Mena region was going to look like and we dove right in. Based on what we have seen in other emerging markets that we have invested in, we believe it is still early days in  terms of the fintech ecosystem in the Mena region and we are really excited about the overall  opportunity set.” VentureSouq Mena fintech I is backed by regional powerhouses including Jada Fund of Funds programme and Saudi Venture Capital Company (SVC), Bahrain’s Al Waha Fund of Funds, UAE’s  DisruptAD, ADQ’s venture platform, and Mubadala Investment Company, as well as multinational conglomerates such as OFC, the Middle East investment arm of The Olayan  Group. VentureSouq General Partner Maan Eshgi added: “As the first vertical venture fund in Mena, it was critical to assemble the right LP base. We needed partners that would both understand where the region currently sits on the evolutionary curve, and also that could help our portfolio companies navigate the challenging regulatory and funding terrain in Mena. For us to get the outcomes we need, our portfolio companies need to access not just a single market, but the entire Mena region. We believe we have the right stakeholders to help make access to that  broader market a reality.” The Fund has been actively deploying capital into startups across Mena and Pakistan, including regional ‘buy now pay later’ Tabby, Saudi-based B2B marketplace Sary and PropTech platform  Huspy. UAE-based investments include Baraka, Flexxpay, FinTech infrastructure company  NymCard and digital bank Verity and in Pakistan, digital ledger platform Creditbook, e-commerce financing platform PostEx and salary advance startup Abhi Finance. The fund also invested in Egypt-based transportation platform Trella, gig economy financial platform Dayra and North Africa-based super-app Yassir, along with a number of other promising companies, which will be announced in the coming months. Jad Antoun, CEO and co-founder of Huspy, shared: “The VSQ team have been true partners to  Huspy. We share the same belief that people and talent are the foundation of building a  healthy organization and on fundraising, they constantly support us through their network of  top global funds across the US and Europe.”  Mohammed Aldossary, CEO and co-founder of Sary added: “VentureSouq‘s presence,  conviction, understanding of the daily challenges of a startup, and massive belief in the potential of us as a management team has been extremely important to us. Thanks to their  great experience and proven global track record, they were able to support us in attracting  multinational VCs and close multiple investments in less than eight months; a truly agile and  pro-founders VC that can take startups to new levels.”  Established in 2016, VentureSouq has operations in the UAE, Egypt and Saudi Arabia and has invested in over 200 companies worldwide. VentureSouq Partners Suneel Gokhale, Maan Eshgi,  Sonia Gokhale, Tammer Qaddumi and Sonia Weymuller all take an active value-add approach to investment.

DisruptAD Investments

6 Investments

DisruptAD has made 6 investments. Their latest investment was in Groyyo as part of their Seed VC on January 1, 2022.

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DisruptAD Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/3/2022

Seed VC

Groyyo

$4.6M

Yes

3

10/11/2021

Series C

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10

8/2/2021

Series A

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10

7/7/2021

Series B

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$99M

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10

7/1/2021

Series C

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$99M

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10

Date

1/3/2022

10/11/2021

8/2/2021

7/7/2021

7/1/2021

Round

Seed VC

Series C

Series A

Series B

Series C

Company

Groyyo

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Amount

$4.6M

$99M

$99M

New?

Yes

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Co-Investors

Sources

3

10

10

10

10

DisruptAD Acquisitions

1 Acquisition

DisruptAD acquired 1 company. Their latest acquisition was Flipkart on July 12, 2021.

Date

Investment Stage

Companies

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

Total Funding

Note

Sources

7/12/2021

Other

$99M

$6,186.05M

Corporate Majority - IV

4

Date

7/12/2021

Investment Stage

Other

Companies

Valuation

$99M

Total Funding

$6,186.05M

Note

Corporate Majority - IV

Sources

4

DisruptAD Partners & Customers

1 Partners and customers

DisruptAD has 1 strategic partners and customers. DisruptAD recently partnered with Cadre on June 6, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

6/24/2021

Partner

Cadre

United States

Cadre : Announces Strategic Partnership with DisruptAD for International Expansion

As part of this partnership , Cadre will be expanding its corporate footprint to Abu Dhabi , and will work closely with DisruptAD to expand access for investors in the region to commercial real estate in the United States , and vice versa .

2

Date

6/24/2021

Type

Partner

Business Partner

Cadre

Country

United States

News Snippet

Cadre : Announces Strategic Partnership with DisruptAD for International Expansion

As part of this partnership , Cadre will be expanding its corporate footprint to Abu Dhabi , and will work closely with DisruptAD to expand access for investors in the region to commercial real estate in the United States , and vice versa .

Sources

2

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