A new venture for capital

When it comes to political stability, you either drink the Kool-Aid or you don’t,” says Tarek Sadi, managing partner of Middle East Venture Partners (MEVP), using an American adage for wholeheartedly believing in something, as he sips a Nespresso in his office overlooking Martyr’s square. “We drank the Kool-Aid and we are investing in it,” he adds, as his partner Walid Hanna nods in agreement. The pair and a third partner, Rani Saad, set up operations in Beirut in January when they decided it was time to brave the Lebanese venture capital (VC) market and invest in the county’s virtually nascent asset class.   The idea was the brainchild of Hanna, who previously headed up Dubai International Capital’s Arab Business Angels Network. As the word ‘venture’ became less attractive to a market at a standstill, the imperative to move to greener and, previously, riskier pastures became all the more evident.