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|| ex-DIC manager invests venture capital in three companies

mevp.jpgMiddle East Venture Partners, a Cayman Island fund managed by an ex-Dubai International Capital manager Walid Hanna and his partners, has announced investments in three companies: Pin-Pay, iLevel, and Multilane.

MEVP fund is a Middle East focused venture capital firm with its first close at $10 million and the goal of reaching $20 million. Their limited partners are "two of the leading five Lebanese commercial banks, three large Lebanese conglomerates, and six individuals who are mostly Lebanese with a couple of Saudis" according to Hanna.

There is a good story about MEVP on the September 2010 issue of the Executive magazine. You can read it here. Also you can watch an interview with Walid here.

To see more venture capital firms focused on the Middle East like MEVP check our Middle East Investors Directory.

Their full press release follows

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