Women-led VC Globivest Achieves First Fund Close

Women-led VC Globivest Achieves First Fund Close

Lebanon-based venture capital (VC) firm Globivest announced the first close of its first fund for an undisclosed sum.^[1]

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 vision to invest in technologies.

Globivest transitioned from a family office to an institutional VC fund under the leadership of Jasmine Busson, Sophie Makzoumé, and Charbel Moarbes.

With a primary focus on funding startups that offer both financial returns and substantial societal impact in areas such as social inclusion, education, health, and the environment, Globivest has invested in 50 startups over the past six years. These startups include Citi Ventures, Plug and Play, Newfund, Angelini Ventures, and Arab Angel Fund.

In 2023, Globivest, the first women-led fund in the region, embarked on the next phase of its journey by raising its maiden institutional fund.

Laura-Joy Boulos, a neuroscientist who was named by the L’Oréal-UNESCO Foundation in 2020 as one of the 15 most promising women scientists, has joined as a partner to verify the scientific underpinnings of portfolio firms.

As a senior associate, Jessica Al-Hussaini, an engineer with ten years of experience in algorithmic trading and finance, will provide her industry knowledge to the team.

Despite the challenges inherent in fundraising within the region, the dynamic leadership duo of Jasmine and Laura-Joy surpassed expectations by achieving their first closing target in just six months, securing two-thirds of the total fund goal, estimated at between $25 and $30 million.

Globivest sets its sights on the second closing in early 2024.

This article was posted on Inc. Arabia EN