Zest Your Equity | 28-Feb-2024

What you need to know about reserved matters, Qatar's new fund-of-funds, and much more.

Author

Ghalia from Zest
February 28, 2024

Zest is digitizing private market transactions, building tools to streamline how entrepreneurs, funds and investors transact.

This week’s agenda 📜

  • Our blog

  • Startup fundraising

  • M&A activity

  • What we’re reading

  • Zest updates

Let’s dive in 👇

Our Blog ✍️

If you’ve ever thought about raising venture capital for your startup, you’re going to need to understand the concept of “reserved matters.”

What are reserved matters?

Reserved matters are governance clauses included in relevant shareholder documentation that determine which corporate decisions need to be approved by specific stakeholders.

The purpose? 

Reserved matters are meant to encourage responsible governance practices while enabling corporate leaders to be efficient decision-makers.

It’s crucial to understand how reserved matters work, examples of common reserved matters, and how to balance these governance considerations with effective decision-making.

In our latest blog post, we discuss these topics and more 👆

Who’s Raising? 💰

  • 🇦🇪UAE-based cloud kitchen The Cloud has raised $12 million in funding from MENA Moonshots as part of the $30 million Series B it is trying to raise, including debt financing from Aluna Partners.

  • 🇪🇬Egyptian fintech MoneyHash, one of such in Africa and the Middle East, has raised $4.5 million in seed investment, money it plans to use to further invest in its technology and growth across the region

  • 🇦🇪UAE-based Web3 gaming platform Exverse, has raised a private funding round of $3 million, led by Cogitent Ventures, Cointelligence, and Moonrock Capital. The funding round also saw participation from KuCoin Labs, Epic Games, Seedify, and ChainGPT.

  • 🇦🇪UAE-based fintech Kema has raised a $2 million pre-Seed round, led by Speedinvest with participation from the Dubai Future District Fund (DFDF).

  • 🌍Pan-Africa logistics startup Logidoo has raised $1.55 million in investment, led by Maroc Numeric Fund II (Morocco), 216 Capital (Tunisia), Gullit VC (Ethiopia), Founders Factory Africa (Nigeria), Sunny Side Venture Partners (Egypt/Japan), and Kalys Ventures (Morocco).

  • 🇦🇪UAE-based gaming platform GameCentric has raised $1.5 million in capital from angel investor, Bilal Merchant.

M&A Activity 💼

  • Saudi data automation firm Basserah and UAE-based AI startup Nybl have united to increase their presence in the region. Source.

  • Jordan-based Arabic audio content network Sowt Media has acquired the UAE-based podcast producer Rising Giants Network (RGN), for undisclosed value. Source.

  • Abu Dhabi sovereign investor Mubadala continues to aggressively push its investment in the financial services sector, taking a leading role in the acquisition of a chunky equity stake in the US’s fifth largest insurance broker, Truist Insurance Holdings (TIH), alongside co-investors Stone Point Capital and CD&R. Source.

  • Saudi Arabia-based investment firm CoreVision has acquired a strategic stake in the Mena-focused  investment management platform VeFund. Source.

What We’re Reading 📖

Qatar all set to invest $1b into regional, international VC funds

Qatar Investment Authority to create Gulf state's first VC-targeted fund of funds

Egypt Clinches Biggest Deal Ever With UAE Investing $35 Billion

The United Arab Emirates agreed to invest $35 billion in Egypt, a breakthrough in Cairo’s efforts to end its worst foreign-exchange crisis in decades.

Master List of Tips and Hacks on how to successfully communicate with investors.

Proven Strategies and Pitfalls to Avoid in VC Communication with Investors

Family Offices Are Boosting Allocations to Alts in 2024

A survey of 75 family office CIOs shared their plans for portfolios this year.

Does your VC firm have a head of platform? You might need one

As portfolio companies struggle, VCs are increasingly having to get their hands dirty, leading to a rise of platform roles.

With liquidity rare, VCs may get creative to return investor cash

Welcome to the very last issue of The Exchange! With TechCrunch+ sunsetting this month, The Exchange column and its newsletter are also coming to an end.

Should you pass on high startup valuations?

Perspectives from fund managers on the "valuation question". Hi, this is Weekend Fund! Welcome to the 15th edition of Signature Block, a newsletter for fund managers.

Venture Capital & Free Lunch

Why Venture Capital is the Best Asset Class

UAE Exits Watchdog’s Dirty Money List in Quick Turnaround

The United Arab Emirates was removed from a global watchdog’s “gray list” on Friday, less than two years after the Gulf state’s demotion, capping a push by local authorities to clamp down on illicit financial flows.

The new realism in venture capital is healthy

Rising stockpile of ‘dry powder’ is a sign of private capital’s growing attraction as an asset class

Building a startup is like building a house

The journey of building a startup is an adventure filled with unexpected twists and turns, much like the construction of a dream home.

Zest Updates 🚨

We're thrilled to join the many technology and private market leaders at the Step 2024 Conference.

Our Co-founder, Zuhair Shamma’, appeared on stage to discuss the state of secondary funding in private markets alongside Shinez Chalabi, Divyat Rungta, Michael Joseph, and Vittal Ramakrishna.

Thank you Step for hosting such an engaging conference 👏

Want to learn more? Schedule a time with our team below!

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