Iraq Venture Partners (IVP) and the Kingdom of the Netherlands enter into an agreement to start the Orange Corners Innovation Fund (OCIF) Second Phase in Baghdad.
The second phase of the Orange Corners Innovation Fund (OCIF) was launched on December 10, 2024, with a signing ceremony held at the Kingdom of the Netherlands Embassy in Baghdad between the Kingdom and Iraq Venture Partners (IVP). Hans Sandee, Charge d’Affairs of the Kingdom of the Netherlands Embassy to Iraq, Mike Sips, OCIF Advisor at the Netherlands Enterprise Agency, Bassam Falah, General Partner at IVP, IVP fund management team, and Mujahed Waisi, CEO of KAPITA, were among those present at the ceremony.
With this signing, the second phase of OCIF Baghdad, a 2.6-million-euro fund, officially begins. It will give young entrepreneurs direct financial support, access to networks, and technical expertise. With funding from the Kingdom of the Netherlands, IVP will carry out the second phase of OCIF Baghdad.
The charge of affairs Hans Sandee commended IVP and said he was in favor of the partnership. Mr. Sandee emphasized that the second phase of OCIF will build on the success of the KAPITA-managed Orange Corners Program and expressed the Kingdom of the Netherlands’ support for fortifying local partners to foster an entrepreneurial ecosystem where ideas become impact.
OCIF Advisor Mike Sips added: “In 2019, we embarked on the journey to launch the Orange Corners Incubation Programme and later the Orange Corners Innovation Fund. It is due to the hard work of our local partners and the impressive achievements that we are able to continue this work during the second phase of the fund.”
In his turn, General Partner at IVP Bassam Falah added, “We continue to be strong believers in the potentials of Iraqi entrepreneurs, and this new partnership with the Kingdom of the Netherlands to manage the Orange Corners Innovation Fund demonstrates our commitment to IVP’s mission statement, which is to mobilise investments and drive deal flow within the Iraqi startup ecosystem.”
The CEO of KAPITA, Mujahed Waisi, mentioned, “The Dutch government’s support through Orange Corners and the Orange Corners Innovation Fund (OCIF) has been a cornerstone in developing Iraq’s entrepreneurial ecosystem. We at KAPITA, as the implementer of Orange Corners Baghdad and OCIF Phase One, are committed to collaborating effectively with IVP. Leveraging our experience and the Iraqi Angel Investors Network, we aim to facilitate investments and drive meaningful support for Iraqi startups, ensuring their continued growth and success.”
