24 May 2013
Middle East Venture Partners closed three new deals on May 22, 2013, through its two flagship funds, Middle East Venture Fund and Building Block Equity Fund.
The first investment is an equal co-investment between the Middle East Venture Fund and Building Block Equity Fund in Cedar Books. Co-founded by Sany Nawfal and Cyril Hadji Thomas, Cedar Books is a global e-commerce and logistics platform that sells books on 15 global marketplaces such as Amazon.com. Based in Lebanon with operations in the US, UK and Europe, Cedar Books logged more than USD 11 million of annual revenue in 2012.
Another co-investment between the two funds in Shahiya.com has also been closed. Based in Lebanon, it was co-founded by Hala Labaki, Daniel Neuwirth, Cesar Gemayel and Carole Makhoul. Shahiya.com is the Arab world's largest food website according to global online audience tracker Effective Measure. Shahiya attracts more than 1.3 million unique monthly visitors, with a high concentration from Saudi Arabia. The website has been growing organically since its inception at the rate of 10% month on month. Shahiya.com is represented by media conglomerate Choueiri Group through their digital representation unit DMS.
The third investment was closed by the Building Block Equity Fund in the Lebanese restaurant Shawarmanji. Co-founded by Danny el Georr, Nizar Al Hashem and Elias Chabtini, Shawarmanji is a modern chain of fully branded shawarma restaurants. The company opened central kitchens and several outlets in Lebanon and the UAE, with immediate plans to expand in regional and global markets. Shawarmanji aims at being the region's leading modern concept branded shawarma chain with a mission to offer high quality menus at affordable prices.
© Zawya 2013
Middle East Venture Partners closed three new deals on May 22, 2013, through its two flagship funds, Middle East Venture Fund and Building Block Equity Fund.
The first investment is an equal co-investment between the Middle East Venture Fund and Building Block Equity Fund in Cedar Books. Co-founded by Sany Nawfal and Cyril Hadji Thomas, Cedar Books is a global e-commerce and logistics platform that sells books on 15 global marketplaces such as Amazon.com. Based in Lebanon with operations in the US, UK and Europe, Cedar Books logged more than USD 11 million of annual revenue in 2012.
Another co-investment between the two funds in Shahiya.com has also been closed. Based in Lebanon, it was co-founded by Hala Labaki, Daniel Neuwirth, Cesar Gemayel and Carole Makhoul. Shahiya.com is the Arab world's largest food website according to global online audience tracker Effective Measure. Shahiya attracts more than 1.3 million unique monthly visitors, with a high concentration from Saudi Arabia. The website has been growing organically since its inception at the rate of 10% month on month. Shahiya.com is represented by media conglomerate Choueiri Group through their digital representation unit DMS.
The third investment was closed by the Building Block Equity Fund in the Lebanese restaurant Shawarmanji. Co-founded by Danny el Georr, Nizar Al Hashem and Elias Chabtini, Shawarmanji is a modern chain of fully branded shawarma restaurants. The company opened central kitchens and several outlets in Lebanon and the UAE, with immediate plans to expand in regional and global markets. Shawarmanji aims at being the region's leading modern concept branded shawarma chain with a mission to offer high quality menus at affordable prices.
© Zawya 2013
