Last year BeyondCapital launched its Scout Program, a concept made popular by global powerhouse VC firm Sequoia Capital. BeyondCapital brought the model to the region to catalyze early-stage investing in Jordan. The streamlined program allows a selected pool of individual scouts to source deals and find investment opportunities, backed by funding from BeyondCapital.
BeyondCapital has built an extensive network of entrepreneurs, investment funds and angel investors. Their aim is to fill the gap between the entrepreneurial ecosystem and the investor community. The Scout Program is a tool to gain greater visibility and access to early-stage companies around Jordan and invest in a diverse selection of companies.
In hopes of expanding and increasing angel investor activity, BeyondCapital has embedded a unique component in the program requiring the scouts to find external angel investors to co-invest alongside BeyondCapital. Today, 7 angel investors have participated in five investments alongside BeyondCapital.
Managing Director Tamer Al-Salah commented, ‘‘We fully trust in our scouts to recognize high-potential investment opportunities. We want to widen our reach and find companies that otherwise we wouldn’t have found ourselves. Within their various areas of expertise our newly selected scouts; Elia Nuqul, Sima Najjar, Fida Taher, Enad Kanaan, & Khaled Hijab will source deals in creative industries, academia, social impact enterprises and entities outside of the capital, Amman.’’ The program currently has 10 scouts on board.
Al-Salah commented further, ‘Through the program we aim to build an angel community in Jordan, syndicate more deals and build scout capacities as future fund managers.’
BeyondCapital announced their five scout investments, the first being Tickitto, a digital pocket concierge which directly engages with users via social messaging platforms like Messenger and WhatsApp. Powered by AI, the service gives personalized recommendations for local events and experiences, based on user preferences.
The second scout investment is Bilforon, one of BeyondCapital’s portfolio companies under the Start-Up Support Program. The app allows its users to buy and sell home-cooked foods and delicacies from local, home kitchens.
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