Categories: NewsStartups

Aramex co-founder Fadi Ghandour is shifting focus to enable young startups

Jordanian businessman and the co-founder of Aramex, Fadi Ghandour is expressing a deep interest in startups emerging from the Middle East and its neighboring countries.

Ghandour, who served as CEO at the Dubai-based Aramex for 30 years, recently sold his stake in the logistics company to two companies backed by Mohamed Alabbar, the chairman of Emaar Properties, and is now shifting focus entirely on budding startups. He happens to be the Chairman of Wamda, an enabler for entrepreneurs, and last week announced he is also closing Wamda Capital’s first $70 million fund soon. The fund will target e-commerce and technology companies in early and growth stages with an average investment of $250,000 to $5 million.

Fadi Ghandour has also said that he will start fundraising for Wamda II next year. That fund is expected to have a target size of $300 million to $500 million.

According to TechJuice sources, Fadi Ghandour is also taking an interest in Pakistan’s startup industry. He said:

“E-commerce is happening in the region, it’s growing massively. There are about 200 million people in the region that are online. They are transacting. They are effectively building the next economy. I’m betting on those.”

Sponsored
Maryam Dodhy

I love bringing to light stories of extraordinary people working in Pakistan's tech and startup industry. You can reach out to me through maryamdodhy@techjuice.pk.

Share
Published by
Maryam Dodhy

Recent Posts

Rumors Indicate iPhone 17 May Feature Unconventional Camera Design

Apple is reportedly preparing for a significant design overhaul with its iPhone 17 series, blending…

16 mins ago

First AI-Powered Teacher Launched in Pakistan’s Private School

Karachi: A private school in Karachi has unveiled Pakistan’s first AI-powered teacher, a groundbreaking move…

1 hour ago

Yahoo Surprises Users with Its Latest Android Launcher

Third-party apps have long been a staple of the Android ecosystem, but their appeal has…

3 hours ago

Phase-II Review of PTCL-Telenor Deal Finalized by CCP

ISLAMABAD: The Competition Commission of Pakistan (CCP) has completed its Phase-II review of Pakistan Telecommunication…

3 hours ago

Xiaomi’s SU7 Achieves New Production Record, Driving Q3 Growth

Xiaomi has shattered records by producing 100,000 vehicles in just 230 days. This is nearly…

4 hours ago

Teachers Can Now Access OpenAI’s Free AI Course

OpenAI, in collaboration with nonprofit organization Common Sense Media, announced on Wednesday the launch of…

5 hours ago