The seventh episode of the reality show with an entrepreneurial theme, Hope Ventures, the investment arm of Hope Fund, and “Beban,” the first private-public investment platform in the region, both announce the company’s co-investment in “Thiqa Tutoring”.
Together with private sector investors Mashael Fairooz, Founder of JEO Capital, and angel investor Dr. Lamya Mahmood, CEO of Dr. Lamya Group, Beban, “Thiqa Tutoring,” an edtech platform that provides tutoring services throughout the United Arab Emirates with a strong focus on quality supervision, end-to-end management, and personalized consultations for students co-founded by Hamdan Karmustaji and Omar Bakri, raised $300,000 from Hope Ventures.
As a venture capital firm, Hope Ventures funds scalable companies with founders who are visionaries and revolutionize their industries and who are steadfast in their dedication to creating value. Through its extensive network of public and private partners, as well as a local network of mentors who are industry experts, the firm provides strategic capital to accelerate the growth of its portfolio companies into new markets.
Hamdan Karmustaji, co-founder and CTO of Thiqa Tutoring commented on their investment by saying: “Our journey with Thiqa Tutoring started modestly with a small team and significant challenges. Today, just 3 months after filming the episode, Beban (doors) opened to us with the trust of 3 investors. The excitement propelled us to where we are now, with our team exceeding 100 employees. We remember our past with love and pride; the journey has been and continues to be challenging, and we are grateful for every moment of despair and every challenge we have overcome. We are proud of our positive impact on our students and teachers. We are full of Thiqa (confidence) in continuing our role in redefining private tutoring through quality and innovation.”
As the first private-public investment platform in the region, Beban serves as a platform that showcases entrepreneurial talent from all over the region and bridges the gap between promising entrepreneurs and investment resources, be it through strategic capital or business opportunities. This was stressed by His Excellency Aymen bin Tawfiq Almoayed, Chairman of Hope Fund. This episode provides a great example, as the Emirati EdTech platform Thiqa Tutoring successfully raises capital from three investors, including industry experts in the field of education. This infusion of capital and expertise will act as a catalyst for their further success in the market and expansion, demonstrating the role that public-private partnerships can play in fostering entrepreneurial growth in the region.
Khalifa Fund for Enterprise Development (KFED) has partnered with Beban as the Emirati Country Partner. The Chief Executive Officer of KFED, Her Excellency Alia Abdulla AlMazrouei, commented on the occasion: “We are thrilled to announce our high expectations for the participation of Khalifa Fund entrepreneurs. This collaboration not only showcases our commitment to innovation but also underscores our belief in the immense potential of our local business community. Throughout this season, we proudly introduced five nominated projects by Emirati entrepreneurs, each representing the epitome of visionary thinking. These outstanding innovators from the UAE progressed to showcase their ventures to a distinguished panel of regional investors on television, captivating millions of viewers. We look forward to seeing our entrepreneurs’ sustained success and expansion of this esteemed platform.”
