Startech Pitch Deck 6dec2021

INVESTING INTO THE
FUTURE OF BUSINESS
EXECUTIVE SUMMARY 3
SUMMARY OF TERMS 4
OBJECTIVE 6
DESCRIPTION 7
BUSINESS AS USUAL 9
CRITERIA 9
SUCCESSFUL RECIPE 10
INVESTMENT STRUCTURE 11
TABLE OF DEAL SOURCING 13
CONTENTS
ADVISORS & TEAM 14
SECTORS OF FOCUS 21
START UP ECOSYSTEMS 24
VC MARKET 26
PARTNER VCS 27
INVESTMENTS 29
RISK FACTORS 61
APPENDIX I: FINTECH 63
APPENDIX II: DIGITAL TRANSFORMATION 68
APPENDIX III: STARTUP & VC ECOSYSTEM 71
APPENDIX IV: MEVF III PORTFOLIO 88
EXECUTIVE SUMMARY
Technology has maintained it’s place at the epicenter of an ever-changing business environment. Considered
the key driver of change in all modern-day businesses, technology is attracting investments across all
industries. Amid this rapid change, we see an increased appetite for VC that has been expedited throughout
the pandemic. The breadth of opportunities has not met the pace of demand in the MENA region creating
a gap mainly due to the delay in adoption of technology and attracting talent. This gives Startech ample
opportunity to position itself to benefit from narrowing this gap. The value of investing in technology
stems from the investor’s ability to assess different opportunities and arrive at the ideal investment.
Investment Rational Target Regions Investment Strategy
▪ Capitalize on the global technology ▪ Diversify client’s risk by directly

shift to SAAS; software as a service
MENA investing in: multiple, pre-screened,
▪ COVID-19 expedited the race to the Best-In-Class technology based
digitalization of businesses where opportunities alongside our partners
the better positioned entities are ▪ Deploy our client’s invested capital
reaping the benefits of exponential into high growth companies in the
growth early stage of their life cycle
▪ Partnering with established teams ▪ Target companies that are in the
with positive track records reduces internet of things and software as a
launch risk service sector
▪ Directly and indirectly investing ▪ Focus on companies that are not
in 15- 20 companies improves the trying to re-invent the wheel, but
odds of a positive return for clients instead model other successful start-
▪ Achieve scales of economy by co- ups launched abroad
investing with partners that have Global Kuwait ▪ Our target market will be mainly
proven established track records within MENA region and Kuwait
STRICTLY CONFIDENTIAL 3
FUND SUMMARY OF TERMS
Targeted Capital $25 Million
Targeted Returns 15% IRR, 2x Return multiple
Target Regions Global with a focus on Kuwait and MENA
Investment Period 3 years
Divestment Period 4 years
Minimum Ticket $150,000
Fund Currency US Dollars
Sectors of focus VC funds, Fintech, E-commerce, digitally transformed business

models.
FUND FEE STRUCTURE
Management Fee 2%
Subscription Fee 2%
Performance Fee 20% over 15% IRR
OBJECTIVE
Our objective is to give our investors exposure to the

rapidly changing business models that are disrupting
every aspect of our lives. New, winning ideas are expected
to generate returns in multiples. We want to be alongside
those winners.
In addition, recognizing that the investment industry

is undergoing extreme change and severe disruption,
Rasameel launched STARTECH.
Our aim is to stay at the forefront of the investment

industry and take advantage, through partnerships, of
the businesses that are aiming to change the investment
and asset management industry as we know it.
DESCRIPTION
STARTECH is a Kuwaiti CMA licensed private equity

fund that focuses on investing in the ever-evolving
technology sector. The founding strategy is to partner
up with VC players in the region that have a proven track
record in sourcing, managing and exiting investment
opportunities.
A special focus of STARTECH is aimed at players in

the E-commerce, Logi-tech, healthcare and education.
Above all, the fund will take a closer look at Fintech
companies where there is strong evidence to support
and assess the level of disruption to the industry.
Companies in the region have an advantage to replicate

proven business models from the West and China
and implement them in local and regional markets.
An additional advantage is that they understand how
to introduce these models to suit the culture and
demographic appetite. When successful, they become
an easy acquisition target for international players, some
examples include Careem, Talabat, Souq.com to name a
few.
BUSINESS AS USUAL
Our team of experienced analysts have taken

note of a common denominator in today’s tech
ventures:
They are normal businesses powered by the

internet and are executed through portals and
platforms. The internet, big data, computing and
AI are just new enablers to deliver value to the
marketplace. The business of yesterday is the
business of today, only digitally transformed.
We are expecting the tech element that could

potentially be ground-breaking in a specific
vertical, our analysts do not easily get caught up
in the hype of the “tech-y” elements of a business
or idea; Instead, we focus on the underlying
business, how the operations are managed, and
what the core driver of the business is.
OUR CRITERIA
We are strong believers of investment principles

and focus. Staying disciplined is key to achieving
higher returns and protecting investors’ capital.
Change is imminent, and today, change is faster

than ever. However, principles never change.
There are simple rules to making money at play
regardless of any era. Buy low and sell high is one.
The other is, you get paid for the value you deliver
to the marketplace. We make our investment
decisions based on the following order:
▪ We invest in the caliber of talent who understand

and deliver value to the marketplace
▪ Business models that are designed to capture

value and maintain high margins of profitability
▪ Businesses that operate in growth markets
SUCCESSFUL RECIPE
A good recipe for a successful tech investment contains:
▪ A transformed user experience
▪ Dedicated and ambitious team capable of execution
▪ Redefined status quo
▪ Scalability: Platforms vs Portals
▪ Market Leader
▪ Growing customer traction
▪ High client retention
INVESTMENT STRUCTURE
STARTECH
a Kuwaiti licensed fund
Direct Investment Co-investing VC Fund Investment
VC 1 VC 2
Fintech Company
Co. X
The fund will invest We may co-invest VC Investees

directly into Fintech alongside our VC
A bulk of our allocation
companies that are partners in cases where
will be investing as
believed, through our we believe in a winning
LPs with influence in
investment process, to company and would like
VC funds targeting the
have high probability to have extra exposure
region with successful
of transforming the to them
track records and
industry with great
winning teams
traction
INVESTMENT STRUCTURE
INITIAL THE DEEP DD REPORT & INVESTMENT

SCREENING & DIVE PRESENTATION OFFER
SCORING
▪ Analyzing the ▪ Market ▪ Prepare due ▪ Submit an offer

vertical/ sector Penetration diligence report for a stake in
▪ Meeting with ▪ Market Analysis ▪ Present to the company/
Founder(s) Board of Fund
▪ Legal Due
▪ Understanding Diligence Advisors
the Business ▪ Tech. Analysis
Model
▪ Financial
Projections
DEAL SOURCING NETWORK
Alliances
Accelerators
with VCs
Referrals
from the
community
& clients
Attending &
Advisors'
Sponsoring
Network
Events
THE TEAM
THE TEAM
DAKHIL AL DAKHIL
Dakhil Al Dakhil joined Rasameel Investment Company to head the alternative

investments sector, which includes real estate investments and non-listed
companies locally and internationally. He also manages the crowdfunding and
digital transformation projects in the company. Dakhil has extensive experience in
alternative investments. He started his career in early 2004 specializing in private
equity at the Industrial and Financial Investments Company in Kuwait.
Over the years, Dakhil has also acquired experience in real estate investments,
locally, internationally and in the GCC region. He has successfully closed multiple
real estate deals across different sectors of a value exceeding 500 million US dollars.
With an Industrial Engineering degree from the Pennsylvania State University, Dakhil
has become a Chartered Financial Analyst (CFA) in 2008. He has participated in
several leadership, management and specialized courses, most notably the National
Project for Leadership Development (thukhur) and the Innovation Program in
collaboration between the Kuwait Foundation for the Advancement of Sciences
and the University of California, Los Angeles.
THE TEAM
SALEH AL SHAYA
Saleh AlShaya joined Rasameel at the beginning of the 2018 calendar year. Formerly
a licensed realtor in Canada, Saleh started his tenure in Rasameel in the Alternative
Investments department. The time spent in alternative investments enriched Saleh
with a more complete view of the global unlisted investment market which has built
on Saleh’s previous experience in real estate.
A passion for entrepreneurship has driven him to experience creating and running
different start-ups at an early age. As a proud owner of a growing Kuwait based tech
venture, Saleh capitalizes on his experience in running small businesses in various
sectors.
Under Alternative investments, Saleh has developed the knowledge and

understanding of the variety of sectors and the differences they share within the
geographical markets that dominate in satiating international investment appetites.
With a focus on Tech and FinTech projects, Saleh’s knowledge will doubtlessly be
transferrable to the panel.
Saleh has a Bachelor’s Degree of Commerce with honors in Finance from York
University in Ontario, Canada
THE TEAM
SABA AL SADOUN
Saba Al Sadoun joined Rasameel Investment Company as of January 2020 as an

Officer in the Alternative Investments department focusing on Private Equity and
Venture Capital. As a new addition working along side a highly experienced team,
Saba aims to flourish in this field. Saba achieved her bachelors degree (BSc) in
business administration majoring in Finance from the American University of Kuwait
and holds a masters degree (MSc) in International Marketing from the University
of Strathclyde. During her post graduate studies, Saba has developed extensive
knowledge and practical skills with regards to market research studies.
Saba has gained 5+ years of work experience in various fields including Banking
and Financial Services (Citi Group – Kuwait), Purchasing, and Marketing. Prior to
joining Rasameel, Saba worked at AlOstoura Intl Company as a Buyer. During her
years there, Saba gained a diverse experience in fields such as market research,
brand analysis, seasonal analysis, brand management, social media strategies, and
end of season sales strategies both online and offline.
THE ADVISORS
ABDULAZIZ HAYAT
Aziz’s tech entrepreneurship journey began while still in college, having founded
MyValidus, a US-based high school student athlete recruitment platform offering
data analytics to collegiate coaches. He was responsible for product, marketing,
business development, and finance. He later went on to invest in distressed mortgages
and real estate while earning a Master’s in Finance from Harvard University, Division
of Continuing Education. Aziz then gained diverse M&A experience at G2 Capital
Advisors, as well as Debt & Equity Capital Markets experience at NBK Capital
Investment Banking.
He then joined Faith Capital and became the highest ranking full time employee
building a 10-deal portfolio with markups of 70% while serving on two startup boards
in a strategic advisory role. Aziz is also a NY angel investor and Board Member
at the Harvard Club of Kuwait. At Brookline Consulting, a personal advisory firm,
Abdulaziz offers advisory services to technology startups in MENA and the US.
THE ADVISORS
ABDULLAH AL KULAIB
Abdullah obtained his undergrad in business administration double majoring in

Accounting and Finance and has a postgraduate degree in international business
from Georgia State University. During his undergraduate degree he co- founded
The Entrepreneurship and Business Club in AUK participating as it’s Vice President
for two consecutive semesters. Abdullah’s crowning achievement during his tenure
as VP of the Business Club was to form an exclusive agreement that lasted years
after his graduation with one of the most developing and growing banks in the
Middle East. Abdullah started to develop his technical skills during his post graduate
degree in Atlanta, where he developed a Micro-financing mobile app module that
includes peer-to-peer lending.
During his tenure in GSU, Abdulla developed an extensive network with accelerators,
incubators, startups and investors. He then joined Rossette Investment Group as
Assistant General Manager to redefine the strategy of the firm and analyze business
opportunities. He credits his time in Rossette to allowing him to build the proper
base and gain the right network to set up his software development and consulting
firm, Menu House. Abdullah has extensive interest in AI, augmented & virtual reality,
and machine learning. Throughout his career, Abdullah has managed to connect his
business acumen with his on-field experience in the tech space to create a highly
competitive company with a broad line of offerings in a scalable structure
THE ADVISORS
KHALID AL MUTAWA
Khalid Almutawa, developer and entrepreneur, has been building and operating
tech projects and startups for the past 10 years. Khalid has worked on hundreds of
tech projects with the most recent ones being StudentHub, The Capital, Pogi, and
Yo3an.
SECTORS OF FOCUS
Fintech
What do we mean by fintech?
Fintech (or financial technology) is the merger of financial services industry with the technology media and
telecommunications.
Financial services are increasingly requiring technology to add value, satisfy consumer needs, lower costs,
increase efficiency, and enable new functions within financial services.
Why Fintech?
Fintech, like many technologies that have been introduced in the past has asserted itself in the financial
services industry and the technology, media, and telecommunications industry.
Almost 50% of financial services companies and technology, media and telecommunications industries have
incorporated fintech within their operations.
* Source: PWC Global Fintech Report 2019
FINTECH EXPLAINED
Financial Stability Board (FSB) states “( ... ) technologically enabled financial innovation that could result
in new business models, applications, processes or products with an associated material effect on financial
markets, financial institutions and the provision of financial services.”
Technology-enabled Financial Services Innovations and Key Fields of Application
Payments Deposit taking, Investment services, Support

and securities debt and capital asset management applications
settlement raising & insurance
▪ Mobile payment ▪ Crowdfunding ▪ Robo advisors ▪ Big data

methods, (crowdlending, ▪ Social trading ▪ Cloud computing
including app- peer- to-peer
based services ▪ Open banking
lending)
▪ Internet payment ▪ Distributed ledger
▪ Instant credit
methods, including applications
payment initiation
services
* Source: Deutsche Bundesbank
SECTORS OF FOCUS
Digital Transformation (DT)

Digital transformation can refer to anything from IT modernization (for example, cloud computing), to digital
optimization, to the invention of new digital business models. The term is widely used in public-sector
organizations to refer to modest initiatives such as putting services online or legacy modernization. Thus,
the term is more like “digitization” than “digital business transformation”. – Gartner
Why DT?
Digital transformation is being undertaken, at least partially, in virtually all operations of every industry.
According to HBR and McKinsey, the vast majority of digital transformations fail. There are many reasons
that might explain why this is the case. Ensuring a successful digital transformation ensures a venture’s
viability today and better equips a firm to be receptive to the changes of tomorrow.
Keys to successful Digital Transformation:

▪ Placing the right digital-savvy leaders
▪ Building capabilities for the workforce for the future
▪ Empowering people to work in new ways
▪ Giving day-to-day tools a digital upgrade
▪ Communicating frequently via traditional and digital methods
START UP ECOSYSTEMS | GLOBAL
Year-Over-Year Change in Series A+ Deals
START UP ECOSYSTEMS | MENA
Year-Over-Year Change in Series A+ Deals
VC MARKET | GLOBAL
DEAL SHARE BY SERIES
VC capital
following
later series
fundraises
OUR PARTNER VCS
Faith Capital
A Kuwait based VC firm with a focus on investing and acquiring technology firms globally. Faith capital’s vision
is closely aligned with STARTECH making it a great match. The company has successfully invested in over 10
tech-related and disruptive companies all over the world including Justclean, Floward, and CAPTAINPANEL.
It is worth mentioning that the founders of Faith Capital are successful serial entrepreneurs with a notable
exit of the well known food app, Talabat.
Portfolio Sample
OUR PARTNER VCS (continued)
Middle East Venture Partners (MEVP)

▪ Largest and Most Established VC firm in the MENA region
▪ Offices in Beirut, across GCC, and Silicon Valley
▪ AUM of $350MM
▪ Currently manage a portfolio of over 40 companies
▪ Focus on investing in concepts proven in developed markets based in the region
▪ Strong and very long track record
▪ Focus helps mitigate risk as they do not assume risk of proof of concept
▪ Access to network of start-ups
▪ Launched 3 funds since 2010 the first of which has returned almost 50% of investor capital
▪ Each fund has NAV of 2x the committed capital at a minimum
Portfolio Sample
DIRECT INVESTMENT: FLOWARD
Description
Floward is a fast growing consumer flowers
online business. The flowers industry is growing
rapidly within the GCC, and Floward has the team,
capacity, and business fundamentals to become
a market leader. Thus, there is an opportunity
to invest in a fast growing business with a wide
product offering, a clear expansion and exit plan.
Product Offering
Flowers & Gifting

To provide consumers with the best product
offerings through striking partnerships with
various retailers in order to enhance user
experience.
Shops of Social Influencers

An innovative way to spur growth by creating
designer boutiques with an existing consumer
base across their social media profiles.
Product Offering
Subscriptions
Consumers and corporates can sign up for
subscriptions, recurring revenue stream for Floward
and simultaneously offering users continuous supply
with an ease of mind.
Workshops
Floward hosts many events and launches creative
marketing campaigns such as bouquet making
workshops to attract customers and users
Management Team
Abdulaziz B. Al Loughani, Nader Farouk,

CEO Head of Finance and Admin
Latif Balouch, Samer Mostafa,

Head of Operations Bahrain Country Manager
Diyaa Hamza, Ali Gaaliche,

Head of Technology Qatar Country Manager
Taiba Alhumaidhi, Mohammed Alarifi,

Head of Product Mix KSA Managing Director
Mohammed Mousa,
Head of Marketing
Business Update 2020 Sales Performance
Achieved over 8x growth in Sales in 2020 from the previous year and are on track to reach the same growth
rates in 2021
Business Update Highlights for 2020
Total Month on Month Order Return on New Customers

Revenues Sales Growth Served Ad Spend Acquired
$22.0mn 30% 219K $3.2 103K

8.3x Average for 10.1x 1.5x 10.1x
Growth 2020 Increase More efficient Growth
All growth figures are in comparison to 2019
Business Update Highlights for 2020
New Cities App Store Income Generated Gross Instagram

Opened Ratings for Designers Margin Followers
13 4.7/5.0 $888K 56% 278K

6.5x On 1.2K 13.8x 2% +120K
Growth Ratings Growth Additional Gain In 1-year Span
DIRECT INVESTMENT: WAHED
Description
The first Islamic focused asset manager with robo-advisory services catering to retail (muslim) investors
seeking halal means of preserving and growing their wealth
Global Stocks Emerging Market Stocks Sukuk Gold
Fintech is a tool to lower costs, add value, and enhance user experience of financial services. It has paved
the way for companies that are not in financial services to enter this industry. Digital banks, tokenization,
crowdfunding and cutting-edge payment methods, are examples of what fintech has helped provide as
of late.
Adult Impure Usurious

Excess Dept Tobacco Alcohol Firearms Gamebling Entertainment Fooddtock Institutions
Limited Offerings
Scarce products for retail Fully digital platform
Muslim clients
High Costs
Responsible and
Expensive to access
Transparent Investment
Investment Advice
Barriers
Minimum portfolio Multi-product offering
size often > $500k
Traditional
Limited digital offerings Low Cost
for the youth
Management Team
Junaid Wahedna, Kareem Tabbaa, Samim Abedi, Aris Parvis, Musa Abdul-Basser,
CEO CPO Head of Global Head of North America CLO/CCO
▪ CMA, ▪ Experience ▪ Worked ▪ CPA holder, ▪ Highly

CAIA, and in with J.P. experience skilled
a Diploma Investment Morgan and in Product within
in Islamic Analysis Google Management Capital
Finance , Fintech and Markets,
▪ Worked ▪ Founder Startups Private
▪ 2 years with of Kuju Equity, and
prior work Goldman company, ▪ Worked with Mergers
experience Sachs B2C health Deloitte, and
and other and fitness KPMG US ▪ 17+ work
investment start-up experience
companies in relative
fields
How are they making money?

▪ Wahed earns between 50-100 bps on invested capital (AUMs) depending on the size of the
capital invested by each investor
▪ Average AUM fees are approximately 70 bps
Investors
Clients 100,000 Clients 4.7 million

Year 1 Year 5 17X Return
2020 2024
Series - A
$ 135 million (Exit) Series - A
$ 3.5 billion 76% IRR
Valuation Valuation
Advantages: Already Stable, predictable traction and growth with opportunities for ETFs, Debit Cards, and Insurance
WAHED | USER GROWTH STRICTLY
Growth in User Base
▪ Launching in KSA,
Nigeria which are
collectively 5x their
current market size
▪ Undergoing Series B
round which is being
underwritten by HSBC
▪ UK app facelift released
which is expected to
come with an uptick in
UK Clients
WAHED - PORTFOLIO PERFORMANCE
WAHED - PORTFOLIO PERFORMANCE
DIRECT INVESTMENT: SIHATY
Sihaty is a Telehealth Application that offers urgent care, chronic and primary
health care consultation based in Kuwait. Their go-to-market strategy has
been focused on stigmatized conditions and mental health. The objective of
sihaty is to convert users to consulting a primary caretaker (a family doctor)
whom users would consult as conditions arise and would monitor their
health continuously thereby allowing the patient the opportunity to keep
regular track of their health, undergo the necessary check-ups which would
ensure more accurate diagnosis and treatment. Having a family doctor is
common in the US and Europe but not so much in the region. In Kuwait life
expectancy has decreased for those under 50 and Sihaty believes the main
issues are the inefficiencies of the current healthcare system and that the
average patient does not have a family doctor to consult and as such does
not undergo timely checkups.
BUSINESS UPDATE: SIHATY
Downloads and User Registrations
• Sihaty’ focus has proven a viable

strategy
• They will be raising their Series A
in Q4 2021
• Results are based on Kuwait and
KSA operations
DIRECT INVESTMENT: MYHOME
MyHome is a Kuwait based home services

application where they aggregate contractors
for jobs such as plumbing, HVAC, electrical,
and more. MyHome quickly evolved to offer
more home services ranging from dry cleaning
to grocery delivery. MyHome is currently
operational in Kuwait and KSA and is preparing
it’s launch into the UAE market.
BUSINESS UPDATE: MYHOME
MyHome Performance
26,869 13,809 69,878 5.06
Active Customers Recurring Customers Cumulative Jobs placed Average Jobs placed by
to date to date by recurring customers recurring customers in
Q2 2021 vs Same period
in 2020: 5.06 : 4.49
BUSINESS UPDATE: MYHOME
Total Jobs, avg. Job Ticket & avg. Commissions
DIRECT INVESTMENT: EUREECA
Eureeca is the first globally regulated equity crowdfunding platform. Their platform enables members
of their investor network, who range from casual and angel investors to institutional firms, to buy shares
in growth oriented businesses, while providing operational businesses with crucial access to capita.
Co-founders Chris Thomas and Sam Quawasmi launched Eureeca in Dubai in 2013,
and it has since grown into the only multi-regulated and cross-continental platform
globally, having received regulatory approval from the UK’s Financial Conduct
Authority, the Malaysian Securities Commission, the AFM in Holland, and more
recently the Dubai Financial Services Authority.
From its offices in Dubai, London, Kuala Lumpur, and Holland, Eureeca offers high-
yield potential investment opportunities from the Middle East, Europe, and Southeast
Asia to its 23000+ investor network. Businesses raising funds can leverage this
network for capital, strategic connections, and expansion into new markets.
TEAM
Management Founder ex investment
bankers and successful
fintech enterprenuers.
Christopher Thomas Sam Quawasmi Mohanad Shurrab 15+ years in market be-
CEO & Founder CEO & Founder CTO fore launching Eureeca
Full team, all senior roles
▪ 10+ years of experience ▪ 14+ years of experience ▪ Extensive experience in at least 2 years experi-
in establishing in investment banking in Canada, USA, and The ence within Eureeca
businesses London and Dubai Middle East regarding
the development,
▪ Owner of 2 online ▪ Formerly the Director deployment, and IN-HOUSE development team x 6
businesses and a for MENA equities at
operating multiple
property company in Arqaam Capital
internet/intranet web
Brazil
▪ Formerly VP of Equity applications SHAREHOLDERS:
▪ Last major business Capital Markets at
exit in 2010, an FSA SHUAA ▪ Former Managing Director
regulated online of Word Bank
brokerage with 60 staff ▪ Current Head of Emerging
in 12 countries Markets Invesco Perpetual
▪ Former PM Jordan
▪ Former Finance Minister
Board Members: Lebanon/Vice governor
Central Bank
Bruce Armstrong, ▪ Former CFO Nymex Europe ▪ Head of Global Fixed

Income Nomura
Chairman & Investor ▪ Former COO CME Europe
▪ Ceo and Chairman Morgan
Sameer Al Ansari, ▪ Former Head of Dubai Sovereign Wealth Fund Stanley Middle East
Director & Investor ▪ Owns a PE firm ▪ 2 VCS
▪ Head of 5th richest family
Pierre Azzam, ▪ Former COO at Impact/BBDO Group MENA Pakistan
Director & Investor ▪ Founder and CEO of Belong Interactive ▪ 1 Investment bank
HOW WE MAKE MONEY
The core Eureeca business model is, low cost, profitable and scalable.
Revenue Structure:
▪ Listing Fee: $1,500
▪ Success Fee: 7.25%
▪ Processing Fee: 1-1.5%
▪ Closing Costs: $1-4K (Ser-

vice Cost)
Nominee Structure:
▪ Secondary Market
▪ Eureeca SPV holding shares

carry cost: 7.25% (e.g. Div,
Resale of Shares)
Entering at $25 Million Valuation
Next round of fundraising will be based on 4x increase in the current valuation
INDIRECT INVESTMENTS: MEVF III
Brief Description Brief Description Brief Description

▪ Financial robo-advisory ▪ Technology enabled ▪ Online marketplace for
platform aiming to digi- on-demand last mile lo- preowned luxury and
tize wealth management gistics provider fashion items
and bring low cost, pas-
▪ $16B addressable market
sive investing to millenni-
als in MENA Fund Exposure
Fund Exposure
▪ Investment: $4.75M ($4M
▪ Investment: $5.85M (out equity, $750K convertible
Fund Exposure of which $3.75M is equity note)
▪ Investment: $200K & $2.1M are CLs)
▪ MEVFIII Stake: 15.53% (on
▪ Stake: 1.82% ▪ MEVFIII Stake: 21.81% (ex- a fully diluted basis, and
cluding the conversion of prior to the conversion of
the $2.1M CL) the $750K)
▪ Total MEVP exposure:
26.34%
▪ Bykea is a hyperlocal
▪ TruKKer is a UAE-based
marketplace in Pakistan ▪ Nana is a Saudi Ara- online trucking mar-
providing ride-hailing, bia-based online platform ketplace that connects
parcels, food delivery, for grocery ordering and shippers and carries on a
and cash payments lever- delivery single platform
aging a fleet of motorcy-
cle drivers
Fund Exposure Fund Exposure Fund Exposure

▪ Investment: $2M (equity) ▪ Investment: $5.14M ($1.14 ▪ Investment: $500K (eq-
and $2M under closing net in Series A, $4M Se- uity)
(out of which $200K was ries B )
advanced) ▪ Valuation: $38M pre-mon-
▪ Stake: 8.8% ey ($53M post)
▪ Stake: 11.30% (12.30%
post full closing) ▪ Stake: 0.94%
▪ HALAN is an Egyptian tech

company that provides ▪ Food-tech business with
▪ Fintech platform rev-
on-demand ride hailing a SaaS offering to restau-
olutionizing access to
(motorcycles and 3-wheel- rants and an online reser-
financial products for the
ers) and delivery services in vations marketplace for
un-banked sector
Egypt and Sudan dinners
Fund Exposure Fund Exposure

Fund Exposure
▪ Investment: $350K by ▪ Investment: $500K
MEVF III and $350K by (SAFE) closed. The ad- ▪ Fund Exposure
DIFC co-investment vehi- ditional $4.5M that was ▪ Investment $200K
cle approved for investment
▪ Stake:1.36%
is under review due to a
▪ Valuation: $6M pre-money
merger offer by another
▪ Stake: 4.95% for MEVF III company
▪ Stake: N/A
Brief Description Brief Description

▪ MENA’s Cryptocurren-
cy exchange, based in
▪ Cloud Kitchen platform Bahrain regulated by the
Central Bank of Bahrain
(CBB)
Fund Exposure Fund Exposure

▪ Fund Exposure
▪ Investment: $1M, SAFE ▪ Investment: $3.5M
▪ Stake:9.05%
*post ESOP & final closing
COVID–19: CASE STUDY
The challenges brought upon by the pandemic has been an invaluable test on the grit, perseverance and
overall capabilities of our founders. The operational viability of the ventures we backed has been tested, in
one case, and proved in another.
In hindsight we are thankful that the pandemic has served as a testament to the importance of technological
development. Digital platforms have become the mandatory mode as opposed to merely being an option.
This is particularly the case in defensive sectors such as health and education.
Now global markets have become accustomed to the circumstances the virus has put us in the past two
quarters. We are proud to show positive reviews of our two direct investments, Wahed Invest and Eureeca.
Their resiliency and foresight highlights the importance we place on the two main factors we base our
investments on; the founders, and the business opportunity itself.
RISK FACTORS
Liquidity Risk
▪ The risk that a business will not have sufficient funds to meet its financial obligations in a timely
manner, or that an investment cannot be bought or sold in time to prevent or minimize a loss.
How To Mitigate Liquidity Risk

▪ Forecast cash flows and ensure the adequacy of the company/investments capability to cover its
costs
▪ Budgeting
Key Man Risk

▪ When the performance of a department or company is dependent on a person (or few people)
exposing a company to this type of risk through their dependence on that person (those people)
▪ A Key man is a person with a proven skill or knowledge in a particular area necessary for a department
or company’s operations
▪ Risk of key man are associated with the loss of that particular person which may result in a number
of things such as; increased expenses, reduced income, poor work environment, decreased
productivity, damage to company reputation
RISK FACTORS (continued)
How To Mitigate Key Man Risk

▪ Proper succession planning
▪ Proper management and understanding of the knowledge and skills required to perform key-man
operations
▪ Systematic training protocols
Market Risk
▪ The risk of changes in the markets to which a company is exposed to
▪ Types of Market Risk:
▪ Interest Rate Risk is the risk of fluctuation in interest rates (and bonds inversely) having an
impact on an organization’s profitability
▪ Currency Risk is the risk of foreign exchanges affecting returns when investing outside of
one’s local currency
How To Mitigate Market Risk

▪ Interest Rate Risk: Obtain fixed rates or invest in interest rate options or swaps to hedge against
the risk
▪ Currency Risk: Hedge currency positions through forward contracts or swaps
APPENDIX I
FINTECH
FINTECH HISTORY
1960s 1980s 2000s Current

Automated Teller Internet Banking Mobile Banking Wave
Machines (ATM)
Online banking got its Millennials led growth FinTech
Customers had to place start in the 1980s in in mobile banking
vouchers in a drawer France, with Minitel
in the first ATM to
withdraw £10 at a time Participants received
custom designed home
terminals
Source: Barclays, The Guardian, GFMAG;
FINTECH TRENDS
Cost Commoditization
Profit Redistribution
Experience Ownership
Platforms Rising
Data Monetization
Bionic Workforce
Systemically Import-
ant Techs
Financial Regionalization
Source: World Economic Forum in collaboration with Deloitte (Verbatim)
FINTECH TECHNOLOGIES
Data-Focused Technologies Operational Excellence
▪ Analytics ▪ Robotic Process

Automation
▪ Artificial Intelligence
and Machine ▪ Chatbots
learning
▪ Distributed Ledger
▪ Sensor-based Technology (DLT)
Technologies
▪ Biometrics
Front-End Interface Infrastructural Enablers
▪ Intuitive User ▪ Platformification

Interface
▪ Cloud
▪ Gamification
▪ Open APls
▪ Augmented and
Virtual Reality
Source:CapgeminiFinancialServicesAnalysis,2018
CROWD FUNDING TRENDS
APPENDIX II
Digital Transformation
DT | GLOBAL TRENDS
Digital technologies, tools, and methods currently used by organizations, % of respondents1
Respondants at companies with successful transformations2 All other respondents3
Traditional Cloud- Mobile Big data Internet Design Artificial- Robotics Advanced Augmented- Additive
web tech- based internet and big of things thinking intelligence (eg, robotic neural reality manufac-
nologies services technol- data archi- tools process machine- technolo- turing (eg,
ogies tecture (eg, automation) learning gies 3-D
data lakes) techniques printing)
(eg, deep
learning)
85 85
81
71
68
56
53
50
45 44
33 34
31
23 24
21
17
15
12 13 12
11
Respondents who answered "other" or "don't" are not shown.

1
Respondents who say their organizations' transformations were very or completely successful at both improving
2
performance and equipping the organizations to sustain improvements over time, n=263
3 n=1,258
McKinsey & Company
DT | GLOBAL TRENDS (continued)
Success rate of digital transformations,1 by key factors, 2 % of respondents

Statement describes transformations3 Statement does not describe transformation4
Manage- Digital tools Digital Senior People Standard Senior Peaple Peaple Senior
ment team were imple- self-serve managers engaged in operating leaders engaged in engaged in managers
established mented to technology fostered key roles procedures encouraged key roles key roles ensured
clear make infor- was imple- sense of ensured were employees encour- were more collabora-
change mation mented for urgency for collabora- modified to tro experi- aged involved in tion
story for more employees' making tion include ment with employees developing between
transforma- accessible and/or transfor- between new digital new ideas to chal- initiatives units on
tion across business mation units on technolo- lenge old than during transforma-
organization partners' changes transfor- gies ways of past tion
use mation working change initiatives
initiatives efforts
1.7x 1.6x 1.6x

2.0x 1.9x 1.8x 1.8x 1.7x
2.1x
3.1x
Respondents who report success say their organizations transformations were very or completely successful at both improving performance and
equipping the organizations to sustain improvements over time; n=263
Out of 21 key factors of success, determined by total unduplicated reach and frequency (TURF) and shapley analyses. These analyses were used
2
to make commensurate comparisons of best practices within a digital transformation, which were tested by using different types and structures of
questions.
Includes respondents who either agreed (somewhat or strongly) that a given statement describes the transformation or selected a given practice
3
as true of the transformation.

Includes respondents who either disagreed (somewhat or strongly) that a given statement describes the transformation or did not select a given
4
practice as true of the transformation.
McKinsey & Company
APPENDIX III
Start-Up & VC
Ecosystem
Asia-pacific went from having 20% of all top ecosystems in 2012 to 30% today
Share of top ecosystems by continent, 2012 to 2020
Number of Series A+ Deals

Indexed to Dec. 2019
START UP ECOSYSTEMS |
GLOBAL VS. CHINA

Indexed to Dec. 2019
Number of Pre-Seed Startups - 2020

SECTORS OF PRE-SEED STARTUPS
Source: The State of Pre-Seed Startups 2020-Wamda
▪ Startups are mainly based out of the Egypt and the UAE as both have thriving entrepreneurship ecosystems and then
expanding to other markets
▪ E-commerce and marketplace sectors continue to lead however there is growth within the Fintech, SaaS, and Health
technology sectors
▪ Globally, VC funding
has dropped by 20%
during the first 3
months of 2020
▪ Some regions more

aggressive than
others, the MENA
region showcasing
the highest number
of Series A+ deals as
of March 2020
VC MARKET | GLOBAL FUNDRAISING
Global venture fundraising

2013 - 2020*
▪ Fundraising was
relatively strong as
of Q1 2020 prior to
the Pandemic which
started to spread
during March
▪ Fintech remained
a very hot area of
investment globally
during Q1’20
▪ Digital banks in
several jurisdictions
raised strong funding
rounds
Source: Venture Pulse, Q2’20, Global Analysis of Venture Funding, KPMG Private Enterprise. *As of 6/30/20. Data provided by PitchBook, 7/22/20
VC MARKET | EXIT ACTIVITY
Global venture-backed exit activity

2013 - Q2'20
Source: Venture Pulse, Q2’20, Global Analysis of Venture Funding, KPMG Private Enterprise. *As of 6/30/20. Data provided by PitchBook,
7/22/20Exit is expected to drop sharply in the short-term
VC MARKET | EXIT ACTIVITY (continued)
VC-backed start-ups exiting

through IPO dropped from $269.3
bn in 2018 to $255 bn in 2019 with
a negative prospectus for 2020
VC MARKET IN THE MIDST OF THE
COVID–19 PANDEMIC
Venture funding more stable as they progress to later stages
Global venture financing

2013 - Q2'20
▪ Values holding
in 2020 despite
decrease in count
across the board
▪ Deal counts and total
value spend peaked
in 2018
Source: Venture Pulse, Q2’20. Global Analysis of Venture Funding, KPMG Private Enterprise. Data provided by PitchBook, 7/22/20
COVID–19 PANDEMIC
Global Median deal size ($M) by stage

2013 - Q2'20
COVID–19 PANDEMIC
Global Median deal size ($M) by series

2013 - 2020*
▪ Financing terms are already

shifting to be moderately
less founder-friendly
▪ Dry powder which is
estimated at around
▪ $189bn could be a significant
influence once uncertainty
around COVID-19 decreases
investor sentiment will start
to increase
▪ Fundraising on the increase
particularly between the
$8MM – $50 Range and in
later stage ventures
COVID–19 PANDEMIC
Global Median pre-money valuation ($M) by series
2013 - 2020*
Valuations are at the highest

they’ve ever been
COVID–19 PANDEMIC
Global up, flat or down round
2013 - 2020*
Up rounds at the same

level despite COVID-19
CHANGE IN REVENUE
Change in Revenue Since the Beginning of the Crisis
Source: GSER 2020-Startup Genomes
▪ Impact is uneven between sectors and regions

▪ 72% of startups globally have had their revenue drop since the start of the crisis, on average a 32%
decline
▪ 40% of companies experienced a revenue drop of 40% or more
CHANGE IN REVENUE | BY SUBSECTOR
Change in Revenue Since the Beginning of the Crisis

By Subsector
Source: GSER 2020-Startup Genomes
COVID–19 PANDEMIC
Term Sheet Derailed

Status of Fundraising for startups with Term Sheets, Signed or Unsigned, Pre-Crisis
Source: The State of Pre-Seed Startups 2020-Wamda
▪ The fundraising process has been disrupted highly, research shows three out four startups have faced
difficulties within the fundraising process (including those with term-sheets from investors prior to
pandemic)
▪ 18% of startups with terms-sheets have had a funding round canceled by the investor
▪ 54% of startups have had a funding round delayed or the lead investor become unresponsive
APPENDIX IV
MEVF III Portfolio
MIDDLE EASTERN VENTURES FUND III –
SARWA
Brief Description Company Updates KPIs

▪ Financial robo-advisory plat- ▪ Crossed $28M in AUMs in June
form aiming to digitize wealth 2020
management and bring low
▪ Reached dual regulation by
cost, passive investing to mil-
DFSA and FSRA (full 3C li-
lennials in MENA
cense with FSRA)
▪ Withdrawals increased in Q2 to
$1.4M but only 10% of with-
drawal reqests were account
closures. Several initiatives
Fund Exposure (across marketing, advisory
and product) are now in place
▪ Investment: $200K to reduce churn
▪ Stake: 1.82%
▪ Reduced marketing spenf and
lowered CAC significantly to
$100 during Q2 2020
Key Financials
$ Thousands 2019 H2020 1A 2020E 2021E
AUMs 12,859 28,050 73,141 185,437
Brief Description
Net Revenue 35.4 57,6 201 1,099
Marketing Expenses (257) (174) (420) (1,814) ▪ Migrate to Saxobank

▪ Transfer the KIPCO AUMs to Sarwa
Other Expenses (1,033) (841) (1,786) (2,114)
▪ Traction: expand to new GCC markets (currently in discussions
EBITDA (1,255) (957) (2,005) (2,829) with CMA in Saudi and already submitted final application)
ONE CLICK

▪ Technology enabled on-de-
mand last mile logistics pro- ▪ Strong growth of orders in
vider 2020 despite pandemic, fueled
▪ $16B addressable market by digitization of economy
▪ Closed an additional bridge
from MEVFIII of $1.1M
Fund Exposure ▪ RadYes (SaaS product for
▪ Investment: $5.85M (out of restaurants that allows them
which $3.75M is equity & $2.1M to sell directly to consum-
are CLs) ers) growing quickly and has
signed 1,000 merchants in over
▪ MEVFIII Stake: 21.81% (exclud- 6 countries
ing the conversion of the $2.1M
CL)
Key Financials
$ Thousands FY17 FY18 FY19 H1 2020A 2020E
Revenue 2,423 8,292 19,290 13,996 47,702
COGS 2,481 8,373 19,309 12,829 42,767

Next Steps
GM (57) (81) 399 1,167 4,934
▪ Geographic expansion mainly in KSA and Egypt
GM% (2.4%) (0.9%) (2.1%) 8.33% 10.4%
▪ Development and growth of SaaS offering
SG&A (683) (1,203) (5,694) (3,233) (7,783)
▪ Become regional provider of capacity
EBITDA (742) (1,284) (5,295) (2,066) (2,848)
THE LUXURY CLOSET
▪ Online marketplace for pr- ▪ Agreed and signed $2M in-

eowned luxury and fashion vestment from family office of
items Huda Katan
▪ Actual performance is tracking
the projections and 2020 guid-
ance is unchanged
Fund Exposure
▪ H1 2020 NMV up 73% yoy and
▪ Investment: $4.75M ($4M equi- reached $10.2M
ty, $750K convertible note) ▪ H1 2020 Revenue up 71% yoy
▪ MEVFIII Stake: 15.53% (on a and reached $3.6M
fully diluted basis, and prior to
the conversion of the $750K) ▪ June-20 the highest grossing
▪ Total MEVP exposure: 26.34% month ever with $2.1M in NMV
Key Financials
$ Thousands 2019 2019 H1 2020 2020 E
NMV 9,206 14,157 10,167 23,186
GM 2,615 4,473 10,607 7,440
GM% 28.4% 31.6% 35.5% 32.1%

EBITDA (3,345) (4,638) (1,822) (5,740)
EBITDA % (36.3%) (32.8%) (17.9%) (24.8%)
BYKEA

▪ Bykea is a hyperlocal market-
place in Pakistan providing ▪ COVID-19 has impacted opera-
ride-hailing, parcels, food tions across ride hailing verti-
delivery, and cash payments cal. Other services going back
leveraging a fleet of motorcy- online
cle drivers ▪ Despite bike hailing being
under lockdown, Bykea is back
Fund Exposure to 65% of business of pre-
COVID19 and 118% in Islam-
▪ Investment: $2M (equity) and abad
$2M under closing (out of
which $200K was advanced) ▪ Closing of $13M Naspers round
is in final stages
▪ Stake: 11.30% (12.30% post full
closing)
Key Financials
$ Thousands 2017 2018 2019 H1 2020 2020E
GMV 2,346 6,140 14,454 7,071 20,649
NMV (net of cancellations) 1,122 2,664 6,294 3,913 13,353
PC1 169 147 553 330 1,170
PC1 % 15% 5.5% 8.8% 8.4% 8.8%
PC2 (281) (367) (330) (186) (147) Next Steps
PC2 % -25% -14% -5.2% -4.8% -1.1%
▪ Close Series B round led by Naspers
OPEX (1,235) (1,718) (3,163) (1,486) (4,638)
▪ Grow other verticals
EBITDA (1,065) (1,571) (3,493) (2,040) (4,785)
THE LUXURY CLOSETNANA DIRECT
▪ Nana is a Saudi Arabia-based

online platform for grocery
▪ -Very strong growth in 2020
ordering and delivery
driven by lockdown measures
▪ -Q2 2020 GMV $21M, up from
Fund Exposure $2.6M for the same period
previous year
▪ -292k orders during Q2 2020,
▪ Investment: $5.14M ($1.14 net in up from 54k orders for the
Series A, $4M Series B ) same period previous year
▪ Stake: 8.8%
Key Financials
$ Thousands 2018 2019 H1 2020 2020 E
GMV 5,123 16,367 31,518 59,945
Revenue 433 775 1,564 4,219

Logistic, Marketing and
1,231 3,252 3,212 6,498
Payment Expenses
SG&A 1,084 2,523 2,893 7,233
EBITDA % (1,883) (5,000) (4,541) (9,512)
TRUKKER
▪ TruKKer is a UAE-based online

▪ Gross sales reach a low in May,
trucking marketplace that con-
but rebounded the following
nects shippers and carries on a
month as COVID-19 restrictions
single platform
ease (reaching 67% of its all-
time high back in March)
Fund Exposure ▪ Gross profit in June rebounded
to 89% of pre-COVID figure
($201K in June vs. $228K in
▪ Investment: $500K (equity)
Feb)
▪ Valuation: $38M pre-money
($53M post) ▪ TruKKer continues to expand
▪ Stake: 0.94% with 4 offices in UAE, 3 offices
in KSA and 1 in Egypt
Key Financials
H1
USD 2017 2018 2019 2020 E 2021 E 2022 E
2020
Gross
$1.2M $7.0M $17.1M $13.2M $89.6M $172.8M $302.6M
Revenue
Gross Profit $181.6K $1.0M $1.4M $1.1M $10.7M $24.5M $60.5M
% Commis-
15% 14% 8% 8.14% 12% 14% 20%
sion
OPEX ($513.8K) ($1.7M) ($2.8M) ($2M) ($20.5M) ($31.0M) ($33.6M)
EBITDA ($332K) ($977K) ($1.4M) ($929K) ($9.8M) ($6.5M) ($26.9M)
RISE

▪ -14K unbanked migrants have
joined rise’s platform, accounting
▪ Fintech platform revolution- for $130M in annualized salary
izing access to financial prod-
ucts for the un-banked sector ▪ -Rise launched partnership with
Commercial Bank of Dubai (CBD)
to offer saving banks products to
the unbanked migrant workforce
▪ -Insurance product was launched
Fund Exposure in partnership with AXA and over
400 subscribers have become
patrons and total sum insured is
▪ Investment: $350K by MEVF III AED 11M
and $350K by DIFC co-invest-
ment vehicle ▪ -Launching product focused on
cross-border payment enable-
▪ Valuation:$6M pre-money ment in partnership with key pay-
▪ Stake: 4.95% for MEVF III ment processing companies
Key Financials
$ Thousands 2019 A 2020 E
Revenue 487 1,318
GM (27) (220)
GM% - -
EBITDA (467) (966)
EBITDA % - -
HALAN
Brief Description Company Updates

▪ HALAN is an Egyptian tech company that provides
on-demand ride hailing (motorcycles and 3-wheelers)
and delivery services in Egypt and Sudan
▪ -Delay in closing the merger of Halan with MNT
Fund Exposure ▪ -Due to COVID-19 and other reasons, Halan has focused on growing its Ecommerce
business as evidenced in the growth in GMV
▪ Investment: $500K (SAFE) closed. The additional
$4.5M that was approved for investment is under
review due to a merger offer by another company
▪ Stake: N/A
Key Financials / Income Statement KPIs

USD 2018 2019 Q1 2020 2020 E 2021 E 2022 E
GMV (M USD) 1.1 11.5 1.8 123.7 399.6 816.5
Net Revenue (M USD) 0.3 4.5 1.1 24.7 79.9 163.3
% of GMV 23% 39% 63% 20% 20% 20%
Total Subsidiries (M USD) 1.5 9.8 1.5 40.4 92.2 151.0
Gross Profit (M USD) (1.3) (5.3) (0.3) (15.6) (12.3) 12.3
OPEX (M USD) 1.6 (5.3) 1.2 6.2 11.6 14.9
EBITDA (M USD) (2.8) (10.6) (1.6) (21.8) (23.9) (2.7)
EAT

▪ Food-tech business with a
SaaS offering to restaurants ▪ Seated Customers: No. of dinners
and an online reservations rebounded in May, achieving 25%
marketplace for dinners of historic high in June
▪ SaaS: Launched a capacity con-
trol feature for table management
(key for post covid-19), launched
Fund Exposure Arabic version of the app
▪ Fund Exposure ▪ Paying Restaurants: achieved all
time high in number of paying
▪ Investment $200K
restaurants at 969 (inclusive of
▪ Stake:1.36% paused subscriptions, to be re-
sumed once restrictions end)
Key Financials
$ Thousands FY17 FY18 FY19 Q1 2020 2020 E
Revenue 221 516 1.170 418 3,290

(% recurring) (41%) (57%) (46%) (39%) (43%)
Next Steps
Gross Profits 220 513 754 417 2,120
▪ Focus on product development payment gateway (paidbook-
ing), Arabic version for webapp, incremental feature improve-
SG&A (883) (1,369) (2,407) (752) (3,657) ments for Saas
▪ Maintain low burn through salary cuts, 0 marketing spending
EBITDA (663) (853) (1,653) (335) (1,537) and 0 capex
LITTLE MEES

▪ MEVP closed the $1M investment in
LittleMEES in 2 tranches, with the
▪ Cloud Kitchen platform second tranche to be disbursed in
Q1 2021 upon fulfillement of certain
conditions
▪ Scaling the business in order to gross
$1M in post-discount GMV, and treat
Fund Exposure that as the milestone to raise Series A
up to $10M
▪ Over 120 live kitchens together gen-
erating $300k in monthly food order
▪ Investment: $1M, SAFE value (GMV)
▪ An additional 40 kitchens slated to go
live in Q1 2021, providing enough sup-
ply base for the company to scale
Key Financials
$ Thousands 2020 2021 E
GMV 1,819 7,188
GMV (post discount) 1,134 5,688
Revenue 430 2,095
EBITDA (508) (1,537)
RAIN

st
▪ MENA’s Cryptocurrency ex- ▪ Series A: completed 1 closing
change, based in Bahrain reg- for series A PR set for launch
ulated by the Central Bank of th
Jan 17 , 2021
Bahrain (CBB)
▪ Tracking Volume & Revenue:
Fund Exposure Reached all time high in trad-
ing volume in Dec 2020 $55M
▪ Fund Exposure
▪ Investment: $3.5M ▪ Tech: finalized beta for Ad-
▪ Stake:9.05% vanced Trading Platform, pilot
to be launched Jan 2021
*post ESOP & final closing
Key Financials
2019 A 2020 A 2020 E 2021 E
Number of Clients 7,206 25,775 30,000 190,000
Trading Volume $24.7M $216M $162M $445M
Gross Revenue $691K $6,086K $2,866K $18,154K
Costs of Services (COS) ($285K) ($1,819K) ($774K) ($4,355)
Gross Profit $406K $4,126K $2,092K $13,797K
Staff & Contractors ($892K) ($3,718K) ($2,676K) ($5,353K)
Marketing ($158K) ($466K) ($962K) ($8,975K)
G&A ($367K) ($1,227K) ($1,219K) ($2,582K)
EBT ($1,012K) ($1,285K) ($2,765) ($3,113K)
Rasameel Investment Company T. +965 224 7 8800 www.rasameel.com
Kuwait City, Souq Al Safat, 3rd Floor, Office 5 & 6 F. +965 224 7 6600 Rasameel
P.O. Box 4915 Safat 13050 E. info@rasameel.com
Disclaimer:
This document is issued by Rasameel Investment Company K.S.C.C. «Rasameel». Rasameel is authorised and regulated in Kuwait by the
Central Bank of Kuwait and is a member of the Rasameel Group of Companies («Rasameel Group»). This document is for information and
convenient reference, and is not intended as an offer or solicitation of the purchase or sale of any security or other investment.

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INVESTING INTO THE

TABLE OF DEAL SOURCING 13

Investment Rational Target Regions Investment Strategy

▪ Capitalize on the global technology ▪ Diversify client’s risk by directly

Targeted Capital $25 Million

Targeted Returns 15% IRR, 2x Return multiple

Target Regions Global with a focus on Kuwait and MENA

Investment Period 3 years

Divestment Period 4 years

Minimum Ticket $150,000

Fund Currency US Dollars

Sectors of focus VC funds, Fintech, E-commerce, digitally transformed business

Performance Fee 20% over 15% IRR

Our objective is to give our investors exposure to the

In addition, recognizing that the investment industry

Our aim is to stay at the forefront of the investment

STARTECH is a Kuwaiti CMA licensed private equity

A special focus of STARTECH is aimed at players in

Companies in the region have an advantage to replicate

Our team of experienced analysts have taken

They are normal businesses powered by the

We are expecting the tech element that could

We are strong believers of investment principles

Change is imminent, and today, change is faster

▪ We invest in the caliber of talent who understand

▪ Business models that are designed to capture

▪ Businesses that operate in growth markets

A good recipe for a successful tech investment contains:

▪ A transformed user experience

▪ Dedicated and ambitious team capable of execution

▪ Redefined status quo

▪ Scalability: Platforms vs Portals

▪ Growing customer traction

▪ High client retention

Direct Investment Co-investing VC Fund Investment

The fund will invest We may co-invest VC Investees

INITIAL THE DEEP DD REPORT & INVESTMENT

▪ Analyzing the ▪ Market ▪ Prepare due ▪ Submit an offer

Dakhil Al Dakhil joined Rasameel Investment Company to head the alternative

Under Alternative investments, Saleh has developed the knowledge and

Saba Al Sadoun joined Rasameel Investment Company as of January 2020 as an

Abdullah obtained his undergrad in business administration double majoring in

* Source: PWC Global Fintech Report 2019

Payments Deposit taking, Investment services, Support

▪ Mobile payment ▪ Crowdfunding ▪ Robo advisors ▪ Big data

* Source: Deutsche Bundesbank

Digital Transformation (DT)

Keys to successful Digital Transformation:

Year-Over-Year Change in Series A+ Deals

Year-Over-Year Change in Series A+ Deals

Middle East Venture Partners (MEVP)

Flowers & Gifting

Shops of Social Influencers

Abdulaziz B. Al Loughani, Nader Farouk,

Latif Balouch, Samer Mostafa,

Diyaa Hamza, Ali Gaaliche,

Taiba Alhumaidhi, Mohammed Alarifi,

Business Update 2020 Sales Performance

Business Update Highlights for 2020

Total Month on Month Order Return on New Customers

$22.0mn 30% 219K $3.2 103K

All growth figures are in comparison to 2019

Source: GSER 2020-Startup Genomes

Source: GSER 2020-Startup Genomes