Fundraising insights from Ali A. Abussaud, the CEO of Hala VC.
In the dynamic startup ecosystem of the Middle East and North Africa (MENA) region, securing funding is a crucial step for many founders. Ali A. Abussaud, CEO of Hala VC, shares his top advice for founders preparing to raise their first round in a series published by Middle East - Media, titled VC Voices: Insights to Help Startups Succeed.
According to Abussaud, the top three things founders should focus on are:
- Clearly articulate the problem you're solving and explain why now is the right time to solve it. A compelling pitch is one that demonstrates a keen sense of timing and urgency.
- Come prepared with a solid understanding of your numbers. This includes knowledge of your burn rate, assumptions around customer acquisition, and how much you aim to raise relative to the milestones you plan to achieve.
- Approach fundraising as a relationship-building process. Research investors carefully to find those who are a good fit for your stage and industry, tailor your outreach accordingly, and listen attentively to their feedback to validate or improve your business model.
When evaluating early-stage startups, Hala VC looks for a strong founding team, traction, and an interesting problem with a large addressable market size. The series, intended to help startups navigate challenges, is focused on providing practical advice for founders building and scaling startups in the MENA region.
Hala VC is particularly excited about fintech, including proptech and insuretech, in the MENA region, as well as AI solutions with localized applications and strong commercial potential. One such example is Intella, a portfolio company of Hala VC, which impressed with its ability to commercialize an AI product effectively and bridge advanced technology with practical, revenue-generating use cases.
Founders should not view a "no" as permanent, but should stay in touch with occasional updates to build long-term investor relationships. The series, led by venture capitalists from the MENA region, aims to offer insights that can help founders navigate the unique challenges of the MENA startup ecosystem and succeed in their ventures.
- In the dynamic startup ecosystem of the MENA region, founders preparing to raise their first round should focus on articulating the problem they're solving and explaining why now is the right time to solve it.
- When approaching fundraising as a relationship-building process, founders should research investors carefully and tailor their outreach to find those who are a good fit for their stage and industry.
- Hala VC, a venture capitalist in the MENA region, looks for a strong founding team, traction, and an interesting problem with a large addressable market size when evaluating early-stage startups.
- Hala VC is particularly excited about fintech, including proptech and insuretech, in the MENA region, as well as AI solutions with localized applications and strong commercial potential.
- Founders should not view a "no" as permanent and should stay in touch with occasional updates to build long-term investor relationships in the MENA startup ecosystem.
