MENA-focused impact venture capital firm Anara Impact Capital has announced the first close of its debut fund at $48 million, nearing its target fund size of $50 million. The fund will invest in Seed and Series A startups across the Middle East and North Africa.
The fund will focus on startups operating in learning, wellbeing, and climate, targeting businesses that combine strong commercial potential with measurable social and environmental impact. Anara aims to support founders addressing regional challenges while serving large underserved markets.
The first close attracted backing from KfW, on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission, alongside Dara Holdings, ISSF, and several regional family offices and high-net-worth individuals.
The fund is led by Nafez Dakkak, Mohamed Hussain, and Nadia Moukaddam, with Fadi Ghandour serving as Chair of the Investment Committee.
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