Magnus Ventures Launches Its Second Fund at GITEX Global & North Star Following the Close of the M-1 Fund to Back Overlooked Founders and Markets in MENAP

Dubai, United Arab Emirates, October 15, 2022 –(PR.com)– With The M-II Ignition Fund, the VC firm is on a mission to back innovators with breakthrough ideas, supporting those ideas that are too often overlooked and underfunded but bringing about impactful change including a sectoral focus on climate change resiliency focused startups.

Speaking to the media, Cofounder & CEO Zain Moosa said, “It’ll be used to fund early-stage entrepreneurs who are solving some of society’s biggest problems,” with a special focus on the climate, healthcare and aging, economic empowerment and services for the next-billion markets.

Established in 2010, the Magnus Group & affiliated companies aim to increase the supply of equity capital to high-potential, early-stage MENAP companies by
supporting new and emerging entrepreneurs who were left behind due to the
early-stage equity availability gap. Having invested & accelerated 14 early stage companies across verticals.

Founder of the Magnus Group Ashraf Kalim said on the occasion, “What started as a passion project to help entrepreneurs, post the relief efforts of Pakistan’s worst earthquake to date, has transformed to a cross sector investment and venture portfolio.”