The launching of the Berytch fund, Wednesday, Feb. 25, 2015. (The Daily Star/Khalil Hassan)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Berytech launched Wednesday its second fund for $51.5 million to support startups in growing their businesses and creating new job opportunities, with financing from over 18 major banks in Lebanon.The $400 million in this new initiative is 75 percent guaranteed by the BDL for local banks, equity investment accelerators, incubators, funds and startups.However, entrepreneurs voiced some concerns with regard to the support that these funds provide to startups.According to Mabsout, one important challenge facing entrepreneurs is that most of these funds tend to look at investing in growth stage startups. Chammas told The Daily Star that only 10 percent of Berytech Fund II will target beginner startups and the rest will be aimed toward intermediate ones.Mabsout added that these funds should also be actively engaged with startups in providing them with strategic advice on how to promote their businesses on the regional level.
Gulf investors looking for good opportunities
Top officials vow to award energy contracts by end 2017
Hajj Hasan hinges more imports from Egypt on increased exports
FOLLOW THIS ARTICLE