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Jordan’s Kharabeesh, founded by Mohammed Asfour, Firas Al-Otaibi, Wael Attili, Shaher Al Otaibi and Wafa Nabulsi, raised a total of US$5 million from Wamda Capital and Dash Ventures with participation from Endeavor Catalyst. This marks Endeavor Catalyst’s first investment in Jordan. Kharabeesh is a multi-channel network platform that aims to create quality Arabic content by combining media, entertainment, and technology to produce original programming designed for online consumption.
Kharabeesh’s network platform is redefining Arabic storytelling by investing in the new generation of digital talent and technology and has become one of the largest online Arabic content creators. Kharabeesh Partners, those who create content hosted on Kharabeesh platforms or co-create content with Kharabeesh, are offered consulting services, analytics reporting, brand management, and monetization opportunities.
“When searching for entrepreneurs to join Endeavor’s global network, we seek out visionary leaders that are passionate to grow their businesses, capable of maximizing on their potential ecosystem impact and, ultimately, establishing a solid growth trajectory,” said Ali Al-Husry, Chairman of Endeavor Jordan. “We are very excited about this first investment for the Catalyst Fund in Jordan, and are certainly confident of more investments to come along the way”.
Designed to support Endeavor Entrepreneurs with their equity financing rounds, Endeavor Catalyst uses donated and invested capital to co-invest in Endeavor Entrepreneurs’ companies according to a neutral, rules-based process. While Endeavor Jordan and the non-profit organization’s other chapters across the world support high-impact entrepreneurs through strategic advice and access to a world-class mentorship network, Endeavor Catalyst complements these efforts by acting as a new source for capital for Endeavor Entrepreneurs. Proceeds are reinvested in future Endeavor Entrepreneurs’ venture rounds, contributing to the long-term sustainability of Endeavor and supporting its global operations.
“We are honored to be the recipients of Endeavor Catalyst’s first investment in Jordan. This investment will help us achieve our goals in expanding geographically, taking on new team members and devoting increased resources towards marketing and content creation,” said Kharabeesh CEO Mohammed Asfour.
Since their selection by Endeavor in 2010, Kharabeesh has received key services from the global network, including introductions to industry mentors and top investors. Learn more about the company by clicking here.
About Endeavor Catalyst
Endeavor Catalyst is the innovative co-investment fund of Endeavor, set up to invest exclusively in Endeavor Entrepreneur-led companies and to sustain Endeavor’s long-term operations in a mission-aligned way. Since launching in January 2012, Endeavor Catalyst has raised $35M in philanthropically donated and invested capital, and invested into 37 Endeavor companies in 15 countries. To date, Endeavor Catalyst has co-invested alongside a number of leading venture capital and growth equity funds, including Accel Partners, General Atlantic, NEA, Sequoia Capital and Tiger Global. Investments include Globant (NYSE: GLOB) in Argentina; Yemeksepeti.com (acquired by Delivery Hero) in Turkey and Mumzworld in UAE.
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