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[PreMoney MENA 2015] Wamda Capital >> Fares Ghandour & Khaled Talhouni, "ONE REGION, THREE...
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Transcript of [PreMoney MENA 2015] Wamda Capital >> Fares Ghandour & Khaled Talhouni, "ONE REGION, THREE...
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Largest MENA fund $75m Portfolio:
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Fadi Ghandour Chairman & CEO
Track record includes….
Khaled TalhouniManaging Partner
Walid FazaPartner
Lana AlamatPartner/General Counsel
Fares GhandourPartner
Sarah Abu RishehAssociate
Faris AtiyehPortfolio Manager
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What is happening globally?
Source: Dave McClure- Investing In Tech Startups, Miami November 2015
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What is happening in MENA?
Source: Ericson Mobility Report MENA, November 2015
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Source: Digital Landscape, We Are Social Singapore
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Source: Digital Landscape, We Are Social Singapore
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2010
$50m
$100m
$1bn
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2015
$50m
$100m
$1bn
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The next wave
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Why now?
1. Data-driven efficiency!
Technology allows us to unlock hidden value in friction-full asset XWhere X= Time, money, space, car, home, etc…
2. Dinnasaurs are not data-driven!
Existing players are too slow to adapt and and reliant on legacy infrastructure that is now a hinderance – need to justify sunk capex.... Data to the contrary is problematic...
Data drives successfull businesses.
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Fintech- MENA is unbanked
The lowest GLOBALLY !!
Source: The Global Findex Database 2014, World Bank Group
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Fintech- The credit gap is the largest globally
FORMAL SMES ONLY!
Source: The Global Findex Database 2014, World Bank Group
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FinTech
The opportunity: skip the bank!
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Fintech- democratizing access to capital
90% of the unbanked will remain unbanked because soon they won’t need
one.
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Source: How Young Arabs are Fueling the MENA Media Market, November 2014 Abu Dhabi Media Summit, Strategy&
Media & Content- Advertising dollars are shifting
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Media & Content- because people spend most of their time online
$ still hasn’t caught up with eyeballs
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Source: Ipsos
Media & Content- democratizing content consumption and creation
User generated contentconsumption and creation
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2015
$50m
$100m
$1bn
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$50m
$100m
$1bn
E-commerce and marketplace opportunity
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E-commerce and marketplace opportunity
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$300k-$1m Round
12-18 month runway
2-3 co-founders
$1.5-$3m valuation
Targeting 1 or 2 cities
$1m-$5m round
18-24 month runway
2 co-founders
$5m-$10m valuation
Significant traction in
KSA
Round sizes
SEED SERIES A
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Convertible note
0-3% interest, 20%
discount
Includes both angels and micro-VCs
Normal to include 5+ investors
3-6 month process
1x non-participating
Board seat for each
major investor
Standard info & visitation
rights
Syndicate = max 2-3 investors
6-10 month process
Terms- looks similar to valley!
SEED SERIESA
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SEED
GROWTH/BUYOUT
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New Entrants
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What’s Changed since we started fundraising?
Pipeline- more than we thought
Deal Size- bigger than we thought
Regional interest- greater than we thought
Capital- more abundant than we thought
Markets- faster adoption than we thought
e-commerce faster than we thought
KSA- tougher than we thought
Iran- sooner than we thought
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LIQUIDITY
Build it and they will come !!
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Thank you!
Khaled Talhouni@KhaledTalhouni
Fares Ghandour@TooSketch
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