What EQ2 Ventures does

EQ2 Ventures is a Dubai-based evergreen venture holding company that deploys early-stage capital into Seed and Series A startups across the Middle East and Africa. The firm was built on the foundations of Equitrust, the corporate venture capital arm of Dubai conglomerate Choueiri Group launched in 2015, and became an independent entity following a CVC spin-off in 2020. Since the spin-off, all investment decisions have been screened by an independent Investment Committee, and the firm operates without traditional fund-cycle pressure. EQ2 has deployed $30M of shareholder capital across 27 active investments and 7 full exits, generating a $71.8M portfolio NAV (December 2024), a 2.6x MOIC, and a 17% net IRR.

The firm's core business model is direct equity investment rather than product sales, with revenue mechanics driven by capital appreciation and exit distributions rather than recurring fees. Its portfolio spans Ad-tech, E-commerce, Marketplaces, Ed-tech, Fin-tech, and AI-powered SaaS, with notable exited positions including Homzmart, Invygo, Abwaab, ArabyAds, Carswitch, Feel22, and Alfan, alongside active investments such as Eyewa, Uncover, Golden Scent, and Fresha. EQ2 positions itself around three differentiators: an evergreen mandate enabling long-term founder alignment, an ecosystem approach where approximately half of portfolio companies already transact with another EQ2 portfolio company, and an "EQ + data" investment philosophy combining emotional intelligence with data-driven screening. The firm is led by CEO Patrick Thiriet with a small operating team of fewer than 10, supplemented by an independent Investment Committee.

Name

EQ2 Ventures

Legal name

EQ2 Ventures

Website

https://eq2ventures.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

EQ2 Ventures is a Dubai-based evergreen venture holding company that invests Seed-to-Series A capital in startups across the Middle East and Africa, focusing on ad-tech, e-commerce, marketplaces, ed-tech, fin-tech, and AI-powered SaaS, spun off from Choueiri Group in 2020.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Corporate Strategic Partnership & Ecosystem Investment Arms (FSANAHAF)

akta.pro secondary industry

Corporate Innovation & Technology Scouting Units (with investment mandate) (FSANAHAI)

Keywords

• Venture capital
• Early-stage investing
• Startup funding
• Portfolio management
• Emerging market 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

Distribution channels1 record

Marketing channels1 record

Core offering

EQ2 Ventures is an evergreen venture holding company that provides early-stage equity capital to Seed to Series A startups in the Middle East and Africa. It invests up to $3M in follow-on rounds across verticals including Ad-tech, E-commerce, Marketplaces, Ed-tech, Fin-tech, and AI-powered SaaS. Beyond capital, the firm offers portfolio companies strategic synergies through an internal ecosystem and access to a deep MENA network spanning media, tech, HR, and data analytics.

Product overview

EQ2 Ventures is a venture capital and investment holding company. It does not offer products or services in the traditional sense; instead, it operates as an evergreen venture fund identifying exceptional founders at Seed to Series A stages with the ability to invest up to $3M in follow-on rounds. The firm focuses on Ad-tech, E-commerce, Marketplaces, Ed-tech, Fin-tech, and AI-powered SaaS sectors across the Middle East and Africa. Its portfolio comprises exited investments in various digital platforms including Homzmart (furniture marketplace), Invygo (car subscription), Abwaab (online learning), ArabyAds (digital advertising), Eyewa (eyewear retail), Golden Scent (beauty e-commerce), Fresha (booking software), and others.

Differentiator

Problem solved

Functional benefit

Products and services

• Early-Stage Venture Capital Investment (Seed to Series A) Equity investment service targeting Seed to Series A stage startup founders across the Middle East and Africa, with focus on Ad-tech, E-commerce, Marketplaces, Ed-tech, Fin-tech, and AI-powered SaaS sectors.
• Follow-On Investment Funding

Quantifiable outcome

• 17% IRR (Net) performance metric
• +1 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Portfolio Synergies NetworkcoreStrategic or Co-development PartnerInternal ecosystem where portfolio companies collaborate. Half of EQ2 startups already work with at least another EQ2 portfolio company, creating value through cross-company synergies in areas like media, tech, HR and data analytics.

Scale indicators9 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Algebra Ventures: Egypt-focused early-stage VC backing tech startups across the MENA region. Operates as an early-stage fund with similar vertical focus to EQ2 and a similar evergreen-style institutional structure.
• Wamda Capital: MENA-focused venture capital firm investing in early to growth-stage technology startups. Highly comparable by geography, sector focus, and stage.
• Flat6Labs: Leading MENA seed-stage accelerator/VC with regional presence across Egypt, Tunisia, UAE, KSA, and Lebanon. Direct peer by stage (seed), vertical focus, and MENA geographic mandate.
• Nuwa Capital: MENA-focused early-stage VC investing in Seed/Series A startups across fintech, SaaS, and marketplaces. Closely matches EQ2's stage, sector, and ecosystem-oriented approach.
• Global Ventures: MENA-focused VC investing in Seed to Series A startups across fintech, SaaS, and digital platforms. Direct peer by stage, vertical focus, and regional mandate.
• Sawari Ventures: Egypt/North Africa-focused VC investing in early-stage technology and fintech startups. Comparable stage and emerging-market focus, with broader North African geographic mandate.
• B&Y Venture Partners: UAE/MENA-focused early-stage VC investing in Seed to Series A startups across similar verticals (consumer, fintech, marketplaces). Closest comparable by stage, geography, and thesis to EQ2 Ventures.
• Beco Capital: Dubai-based early-stage VC investing in MENA technology startups. Direct peer by HQ, stage, and ecosystem-development orientation.

Others

• Choueiri Group (parent CVC context): Dubai-based diversified conglomerate and former parent of EQ2 Ventures (via Equitrust CVC arm). Relevant as a related-party context — illustrates the corporate-venture-cVC origins and resource ecosystem that differentiates EQ2.

Broad incumbents

• 500 Global (500 Startups): Global emerging-market VC accelerator/seed investor with active MENA presence. Comparable on seed-stage investing and emerging-market mandate but broader geographic footprint and significantly larger AUM.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/eq2-ventures

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments28 records

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

Frequently asked questions about EQ2 Ventures