First female-led solo GP fund of funds
out of the GCC region
DUBAI, UAE, April 25, 2024 /PRNewswire/ -- Amkan Ventures,
officially launched today and is announcing a $10M Fund of Funds (FoF) dedicated to backing
emerging venture managers in the US. The new FoF is building a
portfolio of a dozen funds across tech-enabled industries. Amkan
Ventures focuses solely on early-stage funds between $5M and $50M that
have the potential to generate outsize returns through concentrated
portfolio construction. The firm has already made its first
investment in an oversubscribed first-time manager.
Raida Daouk, Founder and
Managing Partner of Amkan Ventures, is the first female-led solo GP
based in the Gulf region to launch a fund of funds. The
geographical barrier along with time differences often hinders
GCC-based LPs from forging crucial connections and gaining
comprehensive insights into the myriad investment prospects
available in the US market. Daouk's goal is clear: to seize the
vast potential and exponential growth of the US venture capital
landscape on behalf of her LPs, ensuring they capitalize on the
abundant opportunities also abroad.
About Raida
Raida started her career in banking
before moving to the investment team of a first-time venture fund,
where she learned the ropes of Venture. Recognizing a void in the
market for personalized venture consulting services, she
established Amkan Advisory, a boutique consultancy firm
specializing in assisting family offices and high-net-worth
individuals in identifying venture funds that align with their
specific strategies. Given that first-time fund managers often
possess the most aligned incentives with their investors, Daouk
understood the significant value they bring to the venture
capital landscape. However, she also understood the
reluctance of family offices to commit capital to relatively
unproven managers. By curating a portfolio of carefully
selected funds, she aims to mitigate the perceived risk associated
with investing in first-time managers while still accessing the
high-growth potential of emerging ventures.
About Amkan Ventures
Amkan Ventures was born to
provide access to LPs seeking investments in emerging managers
beyond their direct reach. The firm targets small Funds I and
II led by ambitious managers who embrace a conviction-driven
approach. With a laser focus on delivering returns, facilitating
access, and nurturing opportunities within the venture arena, Amkan
Ventures is committed to unlocking the full potential of its
investment landscape.
Press Contact:
Raida
Daouk
raida@amkanventures.com
(617) 515-5479
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