• Lebanon-based VC firm IM Ventures has launched a $12 million fund under the USAID Lebanon Investment Initiative (LII) to support entrepreneurs and business owners.
• IM Ventures works in partnership with business incubators, business accelerators, business angels, venture capital, and private equity funds to co-fund or partially insure their investments ranging from the Seed stage to the growth phase
• The SME Fund aims to create opportunities for Lebanon’s private sector to contribute to the country’s economic and social stability.

Press release:

Insure and Match Ventures (IM Ventures) have announced the launch of the Scale Manufacture and Export Fund (SMEF), its second high-growth investment vehicle under the USAID Lebanon Investment Initiative (LII). The SME Fund, for which IM Ventures provided an initial $6 million in capital and raised an additional $6 million from private investors, will support entrepreneurs and business owners who are building market-leading businesses. 

The Lebanon Investment Initiative is a $38 million programme funded by the United States Agency for International Development (USAID). Mary Eileen Devitt, USAID Mission Director, commented on the fund launch: “The SME Fund, similar to its predecessor the Save our Startups (SOS) fund, embodies a true American-Lebanese partnership to create opportunities for Lebanon’s private sector to contribute to Lebanon’s economic and social stability and prosperity.”

IM Ventures works in partnership with business incubators, business accelerators, business angels, venture capital, and private equity funds to co-fund or partially insure their investments ranging from the Seed stage to the growth phase. “SMEF will provide local companies with the capital, expertise, and operational support they need to grow and prosper in the market, increase their export potential, and expand internationally. We are partners in their growth! This milestone comes to actively contribute to the investment and innovation ecosystem in the country. We value the trust and support of our investors and partners, and IM Ventures is still committed to continuously creating impact and supporting the Lebanese economic growth,” said Dr Nicolas Rouhana, Chairman & CEO of IM Ventures.

Maroun N. Chammas, President of Berytech Foundation and LII Chief of Party, also commented on the launch, “Despite the economic crisis in Lebanon and devaluation of the local currency, Berytech continues to pursue opportunities in different sectors by partnering with high-potential founders to address specific market gaps. With the ongoing support of USAID, our aim is to bring transformational changes to the Lebanese economy. We have always believed that SMEs are important contributors to job creation and economic development. We are very aligned with USAID in our vision to address the core challenges and increase resilience.”