The Ethis Super Angel (ESA) Syndicate is a rebranded version of the Ethis Group’s prior ESA angel investment program. Ethis Group is a social finance platform that focuses on investments that are Shariah-compliant.
Four of Ethis’ board members—Ethis Investment Management Director Amran Mohd, Dinar Founder and CEO Khaled Fouad, BETA Foundation Founder and CEO Lilyana Abdul Latiff, and Ethis Founder and Group Managing Director Umar Munshi—will lead the new initiative.
The ESA Syndicate, which supports entrepreneurs concentrating on the Muslim world and halal industries, is by invitation only, according to a release. The program also stated that it will be of “particular interest” to the fintech, agritech, and distribution of halal food sectors, among others. Additionally, camel startups will be given particular consideration.
“We must step up and start investing more in Muslim founders and Shariah-compliant startups. Lack of access to funding for startups is a huge gap in the Islamic finance universe,” said Umar.
The ESA Syndicate was founded in 2020 as a private organization with around 50 angel investors who contributed US $3 million to nine enterprises.
