محمد يحي
- Anara Impact Capital Secures $48 Million at First Close of Its Venture Fund to Support Startups
- The fund targets Seed and Series A startups, with a focus on education, wellbeing, financial inclusion, and climate-related sectors.
Anara Impact Capital, a venture capital firm focused on impact investing across the Middle East and North Africa, has announced the first close of its inaugural fund at $48 million, bringing it close to its target size of $50 million.
The fund will invest in Seed and Series A startups operating in high-impact sectors including education, wellbeing, financial inclusion, and climate, with the aim of supporting businesses capable of generating both strong financial returns and measurable social impact.
The first close attracted backing from a group of prominent institutional investors, including Germany’s KfW Development Bank on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission, alongside Dara Holdings, the Innovative Startups and SMEs Fund (ISSF) of Jordan, and several leading regional family offices.
Anara builds on the legacy of Alfanar Venture Philanthropy, a UK-based organization with more than 20 years of experience supporting social enterprises across the Arab world.
The firm aims to scale businesses that combine commercial viability with meaningful social and environmental outcomes.
The fund’s investment thesis is based on the belief that several critical sectors in the region remain significantly underserved despite offering some of the strongest long-term growth opportunities.
As a result, Anara is focusing on education, skills development, wellbeing solutions, financial accessibility, and climate-focused innovation.
The fund is led by Nafiz Dakkak, Mohamed Hussein, and Nadia Mokaddem, whose collective experience spans venture capital, startup building, operations, advisory services, and impact investing.
The investment committee is chaired by entrepreneur Fadi Ghandour and supported by a network of experienced investors, operators, and ecosystem leaders.
Commenting on the announcement, Nafiz Dakkak, Managing Partner at Anara Impact Capital, said the firm aims to demonstrate that the region can produce globally scalable solutions to some of today’s most pressing challenges, emphasizing that positive impact and financial performance should go hand in hand.
Thomas Ricker, Portfolio Manager at KfW Development Bank, said supporting purpose-driven businesses is essential for sustainable development in the MENA region, noting that the fund will help create jobs and empower entrepreneurs developing solutions to social and environmental challenges.
Lubna Olayan, Chairwoman of Alfanar Venture Philanthropy, highlighted the region’s deep entrepreneurial talent pool, stating that when directed toward areas such as education, wellbeing, and climate, these capabilities can generate both strong financial returns and lasting positive impact.
Read the article in
