IFC is investing in Ibtikar Fund II to support early-stage entrepreneurs, spur innovation, and drive economic growth in the West Bank and Gaza. Ibtikar, which means innovation in Arabic, is a leading early-stage fund manager in the West Bank and Gaza.
IFC is providing $2.5 million in equity to Ibtikar Fund II, Ibtikar’s second venture capital fund. The Women Entrepreneurs Finance Initiative (We-Fi) is investing an additional $500,000 to help Ibtikar better reach and support more women entrepreneurs.
“Women entrepreneurs are disproportionately disadvantaged compared to their male counterparts in accessing seed capital,” said Hanh Nam Nguyen, IFC’s We-Fi Program Manager. “The We-Fi program is committed to supporting women startups through funds, like Ibtikar, and helping to leverage more private sector financing for early-stage companies.”