Phoenician Funds

Investor type Micro VC
Founders George Haimari Jad Salame Mohamed Ibrahim


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This summary is composed by our algorithm based on the analysis of the deals. If you think that some of this information is not accurate, please let us know about it and provide any supporting evidences if possible. Such cases will be analyzed by our ML-algorithm and implemented in our database, which will improve this summary.
Total investments 20
Average round size
The average size of a deal this fund participated in
Portfolio companies 16
Rounds per year 2.86
Lead investments 0
Follow on index
How often the fund supports its portfolio startups at next rounds
Exits 1
Key employees 4
Stages of investment
Early Stage Venture

Areas of investment

  • Software
  • Financial Services
  • Information Technology
  • Mobile Apps
  • Apps

Phoenician Funds appeared to be the VC, which was created in 2015. The leading representative office of defined VC is situated in the Beirut. The venture was found in Asia in Lebanon.

Deals in the range of 1 - 5 millions dollars are the general things for fund. The fund is constantly included in 2-6 deals per year. The top activity for fund was in 2018. Considering the real fund results, this VC is 18 percentage points more often commits exit comparing to other organizations.

The fund was created by George Haimari, Jad Salame, Mohamed Ibrahim. The overall number of key employees were 8.

The usual cause for the fund is to invest in rounds with 2-3 partakers. Despite the Phoenician Funds, startups are often financed by Shorooq Partners, 500 Startups, Wamda Capital. The meaningful sponsors for the fund in investment in the same round are B&Y Venture Partners, BeryTech Fund, Saned Partners. In the next rounds fund is usually obtained by B&Y Venture Partners, BeryTech Fund.

Moreover, a startup needs to be at the age of 4-5 years to get the investment from the fund. The fund has specific favorite in a number of founders of portfolio startups. For fund there is a match between the country of its foundation and the country of its the most frequent investments - Lebanon. Among the most popular portfolio startups of the fund, we may highlight Seez, Toters, NymCard. Among the most successful fund investment fields, there are Information Technology, Financial Services.

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Notable deals

CompanyIndustryRound SizeDateInvestorsLocation


Education and Training Services (B2B)
Educational and Training Services (B2C)
Educational Software
Enterprise Software
Mobile Apps
Peer to Peer
$1M27 Sep 2020 Beirut, Beyrouth, Lebanon

Go Rise

Financial Services
$2M23 Mar 2020 Dubai, United Arab Emirates


Artificial Intelligence
Image Recognition
Machine Learning
Search Engine
$6M17 Feb 2020 Dubai, United Arab Emirates

Wealth Management
$8M22 Jan 2020 Dubai, United Arab Emirates


Financial Services
$1M04 Aug 2019 Cairo, Cairo Governorate, Egypt


Health Care
$1M01 Jul 2019 Beirut, Beirut Governorate, Lebanon

Business Intelligence
Information Services
Information Technology
$1M23 Jun 2019 Beirut, Beirut Governorate, Lebanon

Polaire Group

Information Technology
Mobile Apps
$2M13 Apr 2019 Beirut, Beirut Governorate, Lebanon


Courier Service
Delivery Service
Food Delivery
$4M01 Dec 2018 Beirut, Beirut Governorate, Lebanon


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