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Lebanon Finance News

Dedicated to economic and business news on Lebanon, managed by the team of Lebanon Opportunities.

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Information Technology

$3.2 million for UK-Lebanon Tech Hub. Fund provided by BDL

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Nicolas Sehnaoui, Chairman of the UKLTH, announced a fund of $3.5 million as an investment for the UK-Lebanon Tech Hub (UKLTH). The fund is being provided by the Central Bank (BDL). The amount matches the $2.5 million investment provided by the Brit….
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Emirati Mohamad Alabbar acquires large stake in MEVP. Non-controlling share is less than 50 percent

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Emirati Mohamad Alabbar, founder of Emaar Properties, has acquired a stake in Middle East Venture Partners (MEVP). Alabbar’s acquisition is just under 50 percent.

“Alabbar had been looking for a VC partner who knows the technology ecosystem ….
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Scale-up program to launch at UKLTH. Venture building accelerator program launched, Beirut Innovation Week confirmed

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The UK Lebanon Tech Hub (UKLTH) will launch a scale-up program in September. The program will follow on from the venture accelerator program, The Nucleus, which was launched last week. Dimitri Papadimitriou, Acting Director of UKLTH, said the scale….
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Lebanon Seed Fund launched by Flat6labs. Investments range $30,000 to $500,000 each

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Flat6Labs Beirut announced the launch of Lebanon Seed Fund (LSF), a $20 million early stage fund aimed at supporting 100 local startups over the next five years.

Startups taking part in the seed stage program will receive $30,000-$50,000 in ….
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Berytech Fund I exits three companies for $800,000. PayPlug, Active Identity, and Cook & Eat Lebanese

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Berytech Fund I has exited three of its portfolio companies, PayPlug, Active Identity, and Cook & Eat Lebanese, at a combined price of nearly $800,000.

The venture capital fund said it divested itself from PayPlug at three times the initial i….
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Speed@BDD completes second acceleration program. Startups seek a combined $3.5 million capital

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Speed@BDD has completed a three-month acceleration program for seven tech startups in which it has invested $210,000. This is the startup accelerator’s second program, with a third acceleration program in the offering.

The investment comes ….
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Fransabank buys stake in Pinpay for $2.5 million. Bank to use the service

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Fransabank will invest $2.5 million in Pinpay, a local provider of mobile payment services, said a source close to the deal.

Under the deal, Fransabank will also be using Pinpay’s services for its customers. The bank will stop operating the….
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Speed@BDD invests $180,000 in startups. First batch to seek more investment

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Speed@BDD, a tech startup accelerator, said it has invested $180,000 in its first batch of startups and offered them a three-month acceleration program.

The investment was equally divided among the six startups with each receiving $30,000 to….
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Berytech Fund invests $20 million. Equity injected in 12 local SMEs

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Berytech Fund II has invested nearly $20 million since its inception ten months ago, said Paul Chucrallah, Fund Managing Director. These equity investments were injected in 12 small companies in the telecommunications, digital content, and industria….
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