Supporting Early Stage Companies in the Palestinian Territories
Through DGGF’s Seed Capital and Business Development (SCBD) facility, the Triple Jump team is supporting Ibtikar Fund L.P., a first-time fund targeting innovative Palestinian start-ups and early stage companies.
The Palestinian ICT sector is gaining more recognition both within the Palestinian Territories and in the rest of the world, but – similar to startups in other emerging markets – entrepreneurs are facing severe difficulties to attract funding. Ibtikar aims to address the opportunities in this sector by supporting tech and tech-enabled companies that offer innovative, scalable solutions. Focusing on this segment enables Ibtikar to reach young and promising entrepreneurs and provide them with the support needed to grow their businesses.
Ibtikar adopts a compelling investment strategy that, by combining investment capital and hands-on portfolio management, bridges the gap between seed stage investments and Series A. Ibtikar partners with local accelerators in the West Bank and Gaza to initially nurture start-ups. The most promising companies receive increasing investments (up to one million US dollars) from Ibtikar, together with hands-on non-financial support. Through active engagement with their investees and tranched investments, Ibtikar is able to support the growth of its portfolio companies over time.
The SCBD facility is providing support to the final close of Ibtikar. This intervention aims to support Ibtikar closing at sufficient scale and enable them to demonstrate the case for early-stage finance in the Palestinian Territories.