On the 27th of February 2024, Hope Ventures, the investment subsidiary of Hope Fund, officially announced its co-investment in Glamera, a company based in Saudi Arabia. This momentous investment was unveiled during the eighth episode of the entrepreneurial reality TV show, ‘Beban’, marking a significant milestone as the region’s first private-public investment platform. The total funding amounted to $350,000, secured through Beban, with the backing of several prominent investors, including Fahad AlRajhi, Chairman of Nabdh Investment, and Dr. Khalid Altawil, a super angel investor and Partner at Select Ventures Dubai.
Hope Ventures has built a strong reputation for its unwavering commitment to supporting scalable businesses led by innovative founders who are dedicated to creating value and driving transformation in their respective industries. The firm provides strategic capital to expedite the growth of its portfolio companies and offers access to an extensive network of private and public partners, as well as industry-expert mentors.
The decision to invest in Glamera underscores Hope Ventures’ dedication to championing forward-thinking founders spearheading pioneering businesses, particularly those focused on addressing current challenges and with plans for regional expansion.
In conjunction with Beban, GFH Capital is serving as the Saudi Country Partner, with Razi Almerbati, their CEO, expressing the firm’s resolute support for entrepreneurship across the GCC. He emphasized the significance of backing startups based in Saudi Arabia and reaffirmed their commitment to supporting initiatives that empower aspiring and innovative founders and business models, which can contribute to economic development and diversification in alignment with the ambitions of governments across the GCC.
Mohamed Hassan, Co-Founder and CEO of Glamera, expressed his pride in having Beban as part of his entrepreneurial journey and underscored his enthusiasm for propelling the industry forward through the backing of Hope Ventures. He expressed gratitude for the indispensable support received through the show and highlighted its instrumental role in the success of their fundraising efforts. Furthermore, he encouraged other entrepreneurs to apply for the next season, emphasizing the benefits of the Beban boot camp and the guidance provided by industry experts.
The investment made by Hope Ventures in Glamera signifies a momentous endorsement of the company’s potential and vision. This collaboration further fortifies Glamera’s position within the market and provides the essential resources for its expansion within the region.
In conclusion, the partnership between Hope Ventures, Glamera, and other key investors underscores a steadfast commitment to supporting innovative and impactful businesses in the region. It also serves as a testament to the potential for growth and success within the burgeoning Saudi start-up ecosystem.
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