Globivest, the first women-led venture capital fund in the Middle East, is announcing with great pride that it has closed its first round of investments. Jasmine Busson, who has experience in both the automotive and equestrian show jumping industries, founded Globivest in 2016 as a family office with the goal of making investments in cutting-edge technology.
Significant growth has occurred during the transition from a family office to an institutional venture capital fund, thanks to the hardworking team under the direction of Jasmine Busson, Sophie Makzoumé, and Charbel Moarbes. Globivest has made targeted investments in fifty startups over the previous six years, establishing a network and earning recognition from important ecosystem participants like Plug and Play, Citi Ventures, Angelini Ventures, Newfund, and Arab Angel Fund.
Globivest raised its first institutional fund in 2023 to move to the next phase, capitalizing on its success and organic growth. This accomplishment not only solidifies Globivest’s standing in the sector but also establishes it as the area’s first fund managed by women.
The fund’s refined thesis, which emphasizes the connection between human health, animal health, and a healthy environment, is in line with the World Health Organization’s “One Health” approach. Globivest seeks to invest in businesses that have a positive financial impact on the environment and health in addition to producing significant results.
In order to verify the portfolio startups’ scientific foundations, Dr. Laura-Joy Boulos, a neuroscientist who was named by the L’Oréal-UNESCO Foundation as one of the 15 most promising women scientists in 2020, joined as a partner. A wealth of industry knowledge was also brought by Jessica Al-Hussaini, an engineer who joined as a senior associate and has ten years of experience in algorithmic trading and finance.
In spite of fundraising obstacles in the area, the dynamic team led by Jasmine and Laura-Joy hit their first closing goal in six months and raised two thirds of the $25–30 million total fund goal. But because women are still underrepresented in the ecosystem, there are challenges along the way.
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.”
Globivest is determined to create change, close the gap, and demonstrate that profitable returns and meaningful investments can coexist as it prepares for its second closure in early 2024.
