Amkan Ventures Debuts With $10M Fund of Funds to Back the Next Generation of Top Decile Venture Managers
First female-led solo GP fund of funds out of the GCC region
DUBAI, UAE, April 25, 2024 /PRNewswire/ -- Amkan Ventures, officially launched today and is announcing a $10M Fund of Funds (FoF) dedicated to backing emerging venture managers in the US. The new FoF is building a portfolio of a dozen funds across tech-enabled industries. Amkan Ventures focuses solely on early-stage funds between $5M and $50M that have the potential to generate outsize returns through concentrated portfolio construction. The firm has already made its first investment in an oversubscribed first-time manager.
Raida Daouk, Founder and Managing Partner of Amkan Ventures, is the first female-led solo GP based in the Gulf region to launch a fund of funds. The geographical barrier along with time differences often hinders GCC-based LPs from forging crucial connections and gaining comprehensive insights into the myriad investment prospects available in the US market. Daouk's goal is clear: to seize the vast potential and exponential growth of the US venture capital landscape on behalf of her LPs, ensuring they capitalize on the abundant opportunities also abroad.
About Raida
Raida started her career in banking before moving to the investment team of a first-time venture fund, where she learned the ropes of Venture. Recognizing a void in the market for personalized venture consulting services, she established Amkan Advisory, a boutique consultancy firm specializing in assisting family offices and high-net-worth individuals in identifying venture funds that align with their specific strategies. Given that first-time fund managers often possess the most aligned incentives with their investors, Daouk understood the significant value they bring to the venture capital landscape. However, she also understood the reluctance of family offices to commit capital to relatively unproven managers. By curating a portfolio of carefully selected funds, she aims to mitigate the perceived risk associated with investing in first-time managers while still accessing the high-growth potential of emerging ventures.
About Amkan Ventures
Amkan Ventures was born to provide access to LPs seeking investments in emerging managers beyond their direct reach. The firm targets small Funds I and II led by ambitious managers who embrace a conviction-driven approach. With a laser focus on delivering returns, facilitating access, and nurturing opportunities within the venture arena, Amkan Ventures is committed to unlocking the full potential of its investment landscape.
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