Banque du Liban Accelerate 2015, Thursday, Dec. 10, 2015. (The Daily Star/Mohammad Azakir)
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Berytech Fund II announced new investments totaling more than $12 million in six Lebanese tech startups during Banque du Liban's Accelerate conference Thursday.Berytech Fund II will announce five more investments Friday.The $50 million venture capital fund is bankrolled under Banque du Liban's Circular 331, which incentivizes commercial banks to back the local knowledge economy. r With MEVP's IMPACT fund, $2 million in mobinets, a telecom software provider specializing in next-generation smart operation support system solutions.MEVP managing partner Walid Mansour noted during the panel that the IMPACT fund has screened more than 300 companies in Lebanon since it launched last year.
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