Wamda Capital

What Wamda Capital does

Wamda Capital is a Dubai-headquartered venture capital firm investing in technology startups across the MENA region, Turkey, and select emerging markets. Founded by Fadi Ghandour — co-founder of Aramex and the first Arab CEO to take a company to a Nasdaq listing — the firm operates through two distinct investment vehicles: Wamda Capital Fund I, a $70 million closed-end fund launched in 2015 and anchored by the IFC with participation from Zain, which is now fully deployed and in the harvesting phase; and Wamda Capital – Evergreen (formerly Wamda Seed), an early-stage evergreen entity launched in 2019 and backed by Ghandour's personal capital, targeting sector-agnostic Seed to Series A opportunities across the MENAPT region.

The firm's core products are its fund vehicles; it does not develop proprietary technology. Its differentiator is a founder-first evaluation approach grounded in Ghandour's three decades of operating experience at Aramex, supplemented by a media platform (wamda.com) that has published over 18,000 bilingual articles since 2011 and recurring Mix n' Mentor events that generate top-of-funnel deal flow. Across both funds, Wamda has invested in over 100 companies spanning fintech (Tabby, Hala, Ziina, BitOasis, NOW Money, AZA Finance), SaaS (Wafeq, Subsbase, LambdaTest, Salla, ChatFood), mobility (Careem, Moove, Marti, Shift EV), AI (qeen.ai, Breez AI, ClearGrid, BloomPath, Tarjama), e-commerce (Eyewa, Mumzworld, Nana, Modanisa, GoldenScent), healthtech (Alma Health, Kanjo, Aanaab), and other verticals, with notable exits including Careem (acquired by Uber in 2019).

Wamda's revenue model follows standard VC mechanics: management fees on committed capital (primarily from Fund I) plus carried interest from successful portfolio exits. The evergreen structure eliminates traditional fund-lifecycle pressure and allows patient, opportunistic deployment. The firm operates with a lean team of approximately eight people from its headquarters in Dubai Design District (d3), targeting technology founders who need not only capital but also operator-led mentorship and access to a dense regional founder network — services Wamda delivers through its brand, media platform, events, and direct portfolio engagement.

Name

Wamda Capital

Legal name

Wamda Capital

Website

https://wamdacapital.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

Wamda Capital is a Dubai-based venture capital firm investing Seed to Series A in technology startups across MENA, Turkey, and emerging markets. Founded by Aramex co-founder Fadi Ghandour, it operates Fund I ($70M, IFC-anchored) and an Evergreen vehicle, with 100+ portfolio companies.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (52394), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Venture Capital Fund-of-Funds (FSANAGAC)

Keywords

• Venture capital investing
• Early-stage startup funding
• Seed to series A capital
• Entrepreneurship ecosystem building
• MENA technology investments

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Management fees: Wamda Capital charges management fees on committed capital across its Fund I ($70M closed-end fund anchored by IFC with Zain participation) and Evergreen Fund vehicles, a standard VC practice for fund operations.
2. Carried interest (carry): Standard VC carry structure entitles Wamda Capital to a share of profits from successful portfolio company exits, aligning GP and LP interests. Notable exits include Careem (acquired by Uber), Mumzworld, and Twiga from Fund I.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Wamda Capital is a venture capital firm that invests capital in early-stage technology startups across the MENA and MENAPT regions through two fund vehicles: 'Wamda Capital – Fund I' ($70M growth-stage fund anchored by IFC) and 'Wamda Capital – Evergreen Fund' (early-stage evergreen vehicle backed by Fadi Ghandour's personal capital). The firm provides Seed to Series A investments, strategic board-level guidance, and ecosystem access, and also operates the wamda.com bilingual content platform covering the regional tech ecosystem.

Product overview

Wamda Capital operates as a venture capital firm with two main investment vehicles: Fund I ($70m growth-stage fund) and the Evergreen Fund (early-stage evergreen vehicle). Through these funds, they invest in technology startups across the MENAPT region. Additionally, the Wamda ecosystem includes wamda.com, a media platform providing coverage of the regional tech ecosystem.

Differentiator

Problem solved

Functional benefit

Products and services

• Wamda Capital – Fund I
• Wamda Capital – Evergreen Fund

Quantifiable outcome

• Over 100 companies invested across Fund I and Evergreen Fund, including exits such as Careem (acquired by Uber), Mumzworld, and Twiga.
• +2 more outcomes

Named customers68 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Clara (MENA Series A Term Sheet initiative)minorStrategic or Co-development Partner · 1 January 2020Wamda Capital, along with other prominent VCs and law firms, co-developed and endorsed the MENA Series A Term Sheet template — a standardized, high-quality document to support equity funding rounds in the MENA startup ecosystem.

Scale indicators6 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Middle East Venture Partners (MEVP): MEVP is a leading MENA-focused venture capital firm investing in early-to-growth stage technology companies. Directly comparable to Wamda Capital in mandate (MENA tech investing), stage range, and LP base, with similar institutional backing and a track record of regional exits.
• B&Y Venture Partners: B&Y Venture Partners is a UAE-based venture capital firm investing in early-stage technology startups across the MENA region with a similar sector-agnostic mandate and check size range to Wamda Capital's Evergreen Fund. Both firms focus on providing mentorship-driven capital to MENA founders.
• Shorooq Investments: Shorooq is a UAE-based venture capital firm making early-stage investments in MENA tech startups with a sector-agnostic thesis. Comparable to Wamda Capital in geography, stage focus, and founder-support orientation, including co-investment activity in regional rounds.
• Global Ventures: Global Ventures is a MENA-focused venture capital firm investing in early-to-growth stage technology companies. Wamda has co-invested alongside Global Ventures (e.g., Tarjama $15M Series A led by Global Ventures), indicating direct co-investment overlap and similar portfolio thesis.
• Flat6Labs: Flat6Labs is one of the MENA region's largest seed-stage venture capital and startup accelerator operators. Directly comparable to Wamda Capital's Evergreen Fund in early-stage MENA focus, ticket size range, and accelerator-driven deal flow model across multiple regional markets.
• Beco Capital: Beco Capital is a Dubai-based venture capital firm investing in early-stage technology companies across MENA and globally. Comparable to Wamda Capital in geography, stage, and operator-led value-add orientation, with overlapping portfolio companies in the MENA tech ecosystem.

Regional players

• Algebra Ventures: Algebra Ventures is an Egypt-focused venture capital firm investing in early-stage technology startups. Comparable to Wamda Capital's portfolio activity in Egypt (e.g., Halan, FreshSource, Twiga exit), though with narrower geographic focus on Egypt specifically.

Emerging players

• 500 Global (MENA): 500 Global operates one of the most active MENA seed-stage accelerator programs, investing in hundreds of regional startups. Comparable to Wamda Capital's seed-stage mandate through its Evergreen Fund, though with a higher-velocity, accelerator-driven model rather than selective founder-led investing.

Broad incumbents

• STV (Saudi Technology Ventures): STV is one of the largest venture capital firms in the Middle East, managing multi-billion-dollar funds and investing across stages in MENA tech. Comparable to Wamda Capital's regional mandate, but at significantly larger AUM scale and with broader late-stage capabilities.
• Mubadala Ventures: Mubadala Capital's venture arm invests across global technology stages including significant MENA exposure. Wamda has co-invested alongside Mubadala (Holo $22M Series A), reflecting their shared investor role in MENA growth rounds despite Mubadala's broader, multi-region mandate.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/WamdaCapital
• LinkedInlinkedin.com/company/4845649
• Facebookfacebook.com/Wamdacapital

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments126 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wamda Capital