Iraq Venture Partners (IVP) stands as the first and only venture capital firm based in Baghdad, dedicated to nurturing and advancing Iraq's burgeoning startup ecosystem. Launched with the mission to inject smart capital into high-potential Iraqi ventures, IVP is committed to transforming the landscape for local startups and small-to-medium enterprises (SMEs). This article delves into IVP’s unique value proposition, its impactful programs, and its notable portfolio.

The IVP Vision and Value Proposition

IVP’s vision revolves around being a cornerstone for Iraqi startups and SMEs. As the inaugural Iraq-based VC firm, IVP is not only a capital provider but also a strategic partner that connects local startups with regional investors and venture capitalists. The firm focuses on enhancing the investment readiness of Iraqi startups, thereby stimulating a robust investment deal flow within the country.

The firm operates with a holistic approach to venture creation, recognizing that beyond capital, startups require comprehensive support to succeed. IVP’s Value Creation Model encompasses mentorship, strategic guidance, and access to a network of industry experts and thought leaders. This approach is designed to equip startups with the skills and resources necessary to navigate the rapidly evolving business environment.

Funds and Programs

IVP operates several key programs designed to support startups at different stages of their growth:

IVP Catalyst Fund

The IVP Catalyst Fund is a seed and early-stage investment initiative aimed at energizing Iraq’s tech startup ecosystem. Launched in partnership with the World Bank and GIZ, this fund targets high-potential technology companies in Iraq. It provides early-stage funding, mentorship, and crucial resources to help startups thrive. The fund’s first close amounted to $3.5 million, with a target of reaching $5 million. Investment sizes range from $100,000 to $250,000 for initial funding and $250,000 to $500,000 for follow-on investments.

Scale Iraq

The #caleIraq program, in collaboration with the Government of the Netherlands and supported by the International Finance Corporation (IFC), is an Investment Readiness program. It focuses on bolstering Iraqi startups' internal capabilities and market presence to attract both local and international investments. The program addresses challenges such as regulatory hurdles and investor attraction, empowering 30 promising startups with tailored support and resources to scale their operations and enhance their investment appeal.

Getaway Fund

Scheduled to launch in 2025, the Getaway Fund will cater to later-stage Iraqi startups seeking pre-Series A and Series A funding. This fund aims to provide substantial capital infusions ranging from $250,000 to $1 million, helping startups advance through critical growth stages.

The Team Behind IVP

IVP is led by a team of seasoned professionals committed to fostering Iraq’s entrepreneurial ecosystem. The leadership includes General Partners Al-Handal Omar, Falah Bassam, and Khudairi Mohammed, alongside key team members such as Hady El Samra, Programs Manager, and Laura Olivier, Deal Flow Manager. The investment lead, Mohammed Azzam, and other critical roles like Micheline Makhoul, Accountant & Business Controller, and Haneen Ammar Ahmed, Project Coordinator, further strengthen the team’s capabilities.

Portfolio Highlights

IVP’s portfolio showcases a range of promising Iraqi startups that reflect the firm’s investment strategy and impact. Notable portfolio companies include:

• Alsaree3: A food delivery app founded in 2018 by Bassam Al-Ateia, which recently secured a seven-figure Series A round from IVP and other investors. The funding will accelerate Alsaree3’s growth in Iraq’s competitive food delivery market.

• Orderii: Founded by Shakir Ayad Al Jammas in 2015, this e-commerce platform has raised a six-figure pre-seed round from IVP. Orderii facilitates cross-border purchases and plans to expand its presence in key international markets.

• Orisdi: This e-commerce platform, co-founded by Ahmed Al Kiremli and Hala Usama in 2019, has received a six-figure bridge round investment from IVP among other investors. The funds will support Orisdi’s continued development and growth in Iraq’s e-commerce sector.

Iraq Venture Partners (IVP) stands as a pioneering force in Baghdad’s venture capital scene, dedicated to transforming Iraq’s startup landscape through strategic investments and holistic support. By providing essential capital and resources, IVP is not only nurturing high-potential startups but also bridging gaps between local entrepreneurs and regional investors. As IVP continues to evolve with initiatives like the Getaway Fund and impactful programs like #ScaleIraq, it remains a vital catalyst for fostering innovation and economic growth in Iraq.