Startups

Women-led VC firm Globivest completes first close of first fund rephrase

In an unprecedented move, Globivest proudly announces the successful completion of its initial closing, solidifying its position as the leading women-led venture capital fund in the Middle East. Established in 2016 by Jasmine Busson, whose background spans the automotive industry and equestrian show jumping, Globivest initially began as a family office with a mission to invest in cutting-edge technologies.

The transition from a family office to an institutional VC fund has been characterized by remarkable growth, with a dedicated team spearheaded by Jasmine Busson, Sophie Makzoumé, and Charbel Moarbes. Over the past six years, Globivest strategically invested in fifty startups, fostering a network and garnering recognition from key ecosystem players, including Citi Ventures, Plug and Play, Newfund, Angelini Ventures, and Arab Angel Fund.

In 2023, capitalizing on its achievements and organic expansion, Globivest entered the next phase by raising its inaugural institutional fund. This milestone not only solidifies Globivest’s standing within the industry but also establishes it as the pioneer women-led fund in the region.

Aligned with the World Health Organization’s “One Health” approach, which underscores the interconnection of human health, animal health, and environmental health, the fund’s refined thesis focuses on investing in startups that deliver both financial returns and impactful outcomes in health and environmental sectors.

Dr. Laura-Joy Boulos, a neuroscientist honored as one of the 15 most promising women scientists by the L’Oréal-UNESCO Foundation in 2020, joined as a partner to validate the scientific underpinnings of the portfolio startups. Jessica Al-Hussaini, an engineer with a decade of experience in finance and algorithmic trading, also came on board as a senior associate, bringing extensive industry expertise.

Despite fundraising challenges within the region, Jasmine and Laura-Joy, the dynamic duo leading the charge, achieved their initial closing target within six months, securing two-thirds of the total fund goal of $25-30 million. However, the journey is not without its obstacles, as women remain underrepresented in the ecosystem.

Jasmine and Laura-Joy remarked, “Challenges serve as opportunities for growth. Confronting persistent obstacles and occasional paternalistic attitudes only strengthens our resolve. Our aim is not only to establish our credibility in the industry but also to inspire more women and underrepresented individuals to pursue similar paths.”

As Globivest proceeds with its second closing in early 2024, the firm remains unwavering in its dedication to driving change, closing gaps, and demonstrating that impactful investments and financial returns can coexist harmoniously.

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