We’re very happy to announce that we are launching our own fund ‘Why Note Ventures’ to invest in pre-Idea startups of MENA.
‘Why Not Ventures’ will invest in entrepreneurs who have just made their mind that they want to be an entrepreneur (for the sake of it) and haven’t really thought of an idea yet. We want to invest in them at this stage because no one else in the region would do that. We will be the first fund to invest in the brilliant minds who just want to follow the trend to become an entrepreneur because why not.
We understand that it’s a high-risk game but we are in it for the long-run and also because its pretty cool to invest in startups these days, even cooler than starting one yourself.
‘Why Not Ventures’ will provide its portfolio companies with credits of online services that they’re never going to use, mentors and business who don’t know anything about the business of these startups but will offer them personalized advice, and access to network of investors who will never invest in these companies.
We’ll be taking only 51% of equity, leaving the whole 49% for the entrepreneurs because that is the only way we could ’empower’ them to build great companies of tomorrow.
We will be attending career fairs at different top-tier universities of the region to meet the graduates. Students meeting employers at career fairs has to become a thing of the past. We want to change that so we’re taking the first step to give these ‘entrepreneurs’ a chance to start their own ventures as soon as they get out of univesities without having to ask their parents for initial capital.
We’re currently speaking with some wealthy individuals of the region who are very interested to invest in the fund as there’s no better way to jump on the bandwagon.
The applications will open exactly one year from now but you can apply to be on the wait-list because why not.
The only pre-requisite we have for applications is that you must NOT have an idea right now.
Update (Apr 1, 2018 – 2:30 PM GMT): For those of you who didn’t get it, this was an April Fools’ Day prank.
Latest posts by MB Staff (see all)
- Dubai’s The Luxury Closet close its growth round with $11 million, acquires Hong Kong-based Guiltless - May 19, 2019
- Jordanian edtech startup Little Thinking Minds raises $500,000 to close its Series A with ~$1.8 million - May 19, 2019
- Saudi permanent residency permit ‘Special Privilege Iqama’ to cost over $210,000, renewable temporary iqama to have ~$27,000 annual fee: report - May 18, 2019