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The Middle East venture capital market is surging off the back of a slew of recent high-profile exits. As investors scramble to find the region’s most promising ventures, we investigate an emerging start-up scene looking to overcome the odds in Iraq.
In recent months, attention has turned to the Middle East’s growing technology space. Following a number of recent success stories from those who have taken the plunge into Iraq, there has been a swell of interest among high-net-worth individuals, institutional investors and middle-class professionals alike, who increasingly see opportunity for new initiatives in the region. Boosting these prospects, a growing number of angel investor groups and regional corporations setting up venture arms have diversified the sources of financing available – a marked change for the contemporary investment climate.