Middle East Venture Partners (MEVP) has announced four new investments, this brings the number of MEVP portfolio companies to seven.
Beirut, February 3, 2011 - Middle East Venture Partners (MEVP) has announced two new investments, this brings the number of MEVP portfolio companies to six. The funding will help fuel the companies' next stage of growth and their pursuit of regional expansion. "We are extremely excited to be supporting companies with such strong teams, market expertise and technology innovation" said Walid Hanna Managing Partner of MEVP.
The two companies benefiting from MEVP's investment are as follows:
Body & Soul LTD (Lebanon/Regional):
Manufactures and exports natural and organic personal care products with a focus on regional tastes and preferences. The company manufactures in Lebanon. It sells its products through one store in Lebanon and three franchised stores in Jordan, Bahrain and Saudi Arabia. Visit www.bodyandsoul.me
Falafel Games (Hong Kong/Regional):
Designs and produces Arabic-content online games for the MENA audience. Falafel Games focuses on producing massively-multiplayer-online (MMO) games, with themes derived from Arab culture and history. Visit www.falafel-games.com
"All of MEVP's six investments to-date are relatively small. However, we will select standout companies from our portfolio and provide each with up to US$2 million in subsequent rounds. In addition, we will continue to support them with every resource available to us" said Walid Hanna.
About Middle East Venture Partners: MEVP is a Middle East-focused venture capital firm that invests in the early and growth stages of innovative companies run by talented entrepreneurs primarily, but not exclusively, in Lebanon and the greater Levant region. MEVP favors consumer technology, consumer products, and consumer services sectors, but also considers ventures in other areas, such as media, logistics and hospitality, among others. For more information, visit www.mevp.com