During entArabi’s coverage of the Fintech Forward Conference, we interviewed Ali Abussaud, Partner and Co-founder at Hala Ventures, a venture capital firm specializing in investments in tech startups across the Middle East and North Africa. When asked what he looks for as an investor, Ali emphasized that entrepreneurs are more important than the product itself. The entrepreneur is the one who can adapt the product to fit market needs, especially during times of economic crisis. Only then do they focus on the product’s market and its growth potential.
Targeted Sectors
When asked about the sectors they target, Ali mentioned that they are solely focused on the tech sector, including:
- Fintech
- Insurtech
- Foodtech
- E-commerce solutions
- Artificial intelligence
Criteria for Evaluating Startups
Ali explained that evaluating startups revolves around their ability to test the product with a significant number of users, gather feedback, and refine the product. Additionally, the company must demonstrate real and recurring revenue to prove its success.
Future Plans
Regarding future plans, Ali revealed that Hala Ventures aims to launch new funds in various sectors, whether in venture capital or late-stage investments.
Ali also participated as a speaker in a panel alongside Manuel Silva Martínez, General Partner at Mouro Capital, Mohamed Fairooz, SC Ventures Lead for the Middle East, and Jan Piotrowski, Schumpeter Columnist at The Economist. The panel discussed what investors are looking for in the fintech space and how startups can stand out in this volatile market.
