Globivest, Women-led VC Firm, Successfully Closes the First Round
A pioneering female-led Venture Capital firm, Globivest has raised an impressive two-thirds of its target fund, aiming for $25-30 million. This is the successful first closing of the first fund. With this groundbreaking, the women-led firm has solidified its position as the premier VC firm in the Middle East. Founded by Jasmine Busson back in 2016, the firm has successfully invested in over 50 startups, guaranteeing cutting-edge technologies leading to the transformation of the world.
With a background spanning the automotive industry and equestrian show jumping, Globivest, which started off as a family office, with its potential and remarkable skills turned into an institutional VC due to its significant growth over the years. The team consists of Jasmine Busson, Sophie Makzoumé, and Charbel Moarbes. Upon investing in over 50 startups, Globivest has earned recognition from major ecosystem players such as Citi Ventures, Plug and Play, Newfund, Angelini Ventures, and Arab Angel Fund.
Globivest raised its first institutional fund in the year 2023, after taking into account the growth and success of the firm, subsequently moving forward to the next step. This milestone did not just establish Globivest’s footprint in the marketplace but also acquired the title of the first women-led VC in the region.
The proposition behind the fundraising falls into the category of the World Health Organization’s “One Health” approach. The thesis emphasizes the correlation and interconnection between human health, animal health, along with a healthy and sustainable environment. The purpose of Globivest is to make investments in startups which contribute both financial returns and excellent results in the field of health and environment.
Apart from this, the VC team is also joined by Dr Laura-Joy Boulos, a neuroscientist recognized as one of the 15 most promising women scientists by the L’Oreal-UNESCO Foundation in the year 2020. The doctor validates the scientific foundations of the portfolio startups. In addition, Jessica Al-Hussaini whose expertise lies in the world of algorithmic trading and finance for more than 10 years joined Globivest as a Senior Associate imparting her diverse knowledge in the finance industry.
Tackling the obstacles posed in fundraising in the Middle East, Jasmine and Laura-Joy, labelled as the dynamic duo of the firm, successfully raised and closed their first closing target in six months, securing two-thirds of the total fund goal of $25-30 million. Although achieved their first milestone, the journey still has its share of obstacles, as women continue to be underrepresented in the ecosystem.
Jasmine and Laura-Joy commented, “Challenges are where we find our strength. Facing constant difficulties and occasional paternalistic remarks only fuels our determination. We aim not only to establish our legitimacy in the industry but also to inspire more women and underrepresented individuals to tread a similar path.”
As Globeivest sets its foot on its second closing in early 2024, the firm remains steadfast in its commitment to driving change, bridging the gap, and proving that impactful investments and financial returns are not mutually exclusive.