KAPITA launches a new co-working space in baghdad dedicated to supporting Iraqi entrepreneurs

[Baghdad, Iraq] KAPITA, in partnership with Iraqi Angel Investor Jafar Musawi (CEO of Atlas Plast), have opened up a new co-working space in Baghdad that aims to support the growing entrepreneurship and small business sector in Iraq.


The newly opened space ‘CoWork’, is a dedicated co-working space for companies, freelancers, startups and creatives who need a flexible and professional workspace in Baghdad. CoWork is designed to be a convenient and affordable option for youth and freelancers to work from. It is a membership-based coworking space that has the capacity to serve up to 250 youth. This new space by KAPITA aims to create a network of productive Iraqi youth, linking freelancers with small business owners and startups, that enhances and develops the Iraqi ecosystem.


On the 22nd of April 2020, KAPITA held an opening ceremony for CoWork where a number of official figures and representatives from the Baghdad Chamber of Commerce attended along with respective figures from Banks, large corporations, prominent businessmen and Iraqi youth.


Mujahed Al Waisi, Executive Director of KAPITA stated, ‘’CoWork is a new addition to Baghdad, providing an important platform and space for companies, emerging projects and entrepreneurs. The entrepreneurship sector is expanding and growing rapidly in Iraq and there is greater need and urgency to keep up with these changes that are happening and a greater need to support the Iraqi youth in this sector’’.


Jaafar Musawi, the Angel investor of CoWork added, ‘’As businessmen, we know every well the challenges that any project in Iraq faces. We must contribute in opening up new opportunities for the Iraqi market and encourage foreign and local companies to expand into Iraq and relieve any pressures and challenges they may face by providing creative spaces, services and solutions. I am very happy to partner up with KAPITA and to be able to provide a new space for entrepreneurs in Iraq.


In addition, Bahaaddin Salim, CEO of Nass Al Iraq added, ‘’We are happy to support this space by providing the entrepreneurs with essential services that they require such as high-speed internet.”


About CoWork

CoWork is a dedicated co-working space for companies, freelancers, start-ups and creatives who need a flexible and professional workspace.


CoWork offers premium office spaces such as; private offices, shared desks, virtual offices and meeting pods at the lowest cost possible. You will have the freedom to scale your space up (or down) and you will be able to book for a day, a week or a month depending on your need. Coworking here will give you an enthusiastic and collaborative community and you will gain immediate access to other freelancers and consultants, all under one roof. All ready to network, share ideas and collaborate.

For more information visit, https://cowork.rent/en


About Kapita

Kapita is a private sector development company that aims to empower small and medium-sized enterprises (SMEs) through investment, research, incubation/acceleration, and market development programs. It has recently announced the graduation of 20 startups from its incubation program “Orange Corners Baghdad” in collaboration with the Netherland government and is currently accepting applications for the next edition of the program. Kapita is also running an accelerator program in partnership with GIZ and AsiaCell that focuses on scaling and growing existing startups.

For more information visit, http://www.kapita.iq/

IAIN joins ESCP to facilitate funding for SGBs across borders.

We are happy to announce that Iraq Angel Investors Network is now a member of The Early-Stage Capital Provider Network (ESCP); an initiative by the Collaborative for Frontier Finance.

The Collaborative for Frontier Finance is a multi-stakeholder initiative that aims to increase access to capital for small and growing businesses (SGBs) in emerging markets. ESCP Network encompasses capital providers that target SGBs at the early stage of their business model.

Being part of ESCP Network will help IAIN share learnings and build relationships with other early stage capital providers across geographies. IAIN will also be able to create collective action with other ESCP members to identify, develop and implement ideas which the CFF and the network can take forward to provide benefits to the ESCP network as a whole.

Visit IAIN to learn more about our funding process.

Hi-Express, an Iraqi Startup, announces its seed round through the Iraqi Angel Investors Network

The Iraqi Angel Investors Network (IAIN) announced its third facilitated investment into startups in Iraq. The members of the network;Amar Shubar and Jaafar Al Musawi, along with other co-inventors, have made a six figures investment into Hi-Express.

Hi-Express is a last mile delivery focused on the B2B segment of the market and was founded in 2019 by Mujahid Waisi, Ameen Saleem and Ahmed Al Alousi. Hi-Express has grown to serve more than 170 vendors over the past year empowered by its proprietary technology and the deep experience of its founding team. Ahmed Al Aloosi, the CEO of Hi-Express, has commented “Despite the increasing competition in the last mile market in Iraq, the size and potential of the market makes it still up for grabs. Our growth over the past year is a testament to our abilities”. Mujahid Waisi added “This investment will allow us to expand our fleet and offerings to cover the whole Iraqi market, we aim to be the trusted logistics partner to all startups and e-commerce platforms in Iraq”.

Amar Shubar, a member of IAIN and Partner at Management Partners, has commented, “Operations excellence is a key challenge for most companies operating in Iraq and especially the last-mile-delivery segment. The team and technology behind Hi-Express has demonstrated its ability to overcome such challenges. While currently most of the last-mile-delivery demand is driven by the increased E-commerce transactions in Iraq, HI-Express is well positioned to transform customer engagement and service fulfillment for a number of sectors – especially related to the government and financial service sector. ”

Ali Al Suhail, the Investment Manager at IAIN, commented “We are very proud to facilitate the third investment through the network in a record time, it demonstrates the tech opportunity in the Iraqi market and the ability for investments to take place when the right settings are applied”.

Iraq’s Teami receives its first investment through the Iraqi Angel Investors Network

Teami has concluded its first investment round through the Iraqi Angel Investors Network. The company managed to raise a five figure round from a group of distinguished Iraqi investors including; Mohamed Al Hakim, the General Manager of Careem in Iraq and Jordan; Iraqi Tech Ventures; Ahmed Baqir and KAPITA. In addition, Teami secured USD 20,000 in grants from the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH via its project “ICT for Youth in Iraq” as part of the organization’s support to the Angel Network. This event marks the second financing round completed through the Iraqi Angel Investors Network after the recent funding for Tabib Baghdad.

Teami provides CRM solutions to medical agents in Iraq to help them manage their on-field operations. The company is distinguished by its ability to use innovative technology to address the needs of the Iraqi market. The company’s solutions are already being used by more than 400 users. Mustafa Al Jaf, the founder of Teami, is a veteran of the industry with more than 10 years of experience in Abbott. He commented “Over my career, I have built a strong understanding of the pain points facing Iraqi medical representatives, Teami has been built to address them”. On the funding, he commented “We are ready to take on the market. With our funding round concluded, our focus will shift toward ramping up our marketing activities and optimizing our product”.
Mohamed Al Hakim, one of the investors commented, “Teami addresses a real market need today, we see great potential for the company to capture a strong market share over the next few years. Technology can address many of Iraq’s challenges and I see great prospects for Iraqi startups”. Ahmed Baqir added “Teami is a great example of a local answer to local problems using solid technology”.

Teami has graduated recently from ScaleUp Academy and Orange Corner Baghdad, both programs run by KAPITA. Mujahid Waisi; the CEO of Kapita, commented, “We are committed to helping all of our founders from validating an idea to raising their first fund, we are very excited to continue the journey with Teami as an investor’’.

The company has also seen the participation of Iraqi Tech Ventures, this is the third investment for Iraqi Tech Ventures in Iraq after completing their investments into Miswag and AlSaree3. Mohammed Al Khudari, the Executive Director of ITV commented “The Iraqi technology market presents a tremendous opportunity for investors, Teami is a prime example of what can be accomplished by the support of investors and the right founder mindset.”

Ali Al Suhail, the manager of the Iraqi Angel Investors Network further commented, “The large tech opportunity remains for B2C businesses in Iraq but Teami is proof that there are many problems to address and markets to create on the corporate side as well’’.

Iraq-based platform Tabib Baghdad (Razi Care) raises a seed funding round, led by KAPITA and Nass Al Iraq

Tabib Baghdad, an online platform that connects Iraqi Patients to Doctors has raised its seed funding round of six figures through the recently launched Iraqi Angel Investors Network, led by KAPITA and Nass Al Iraq. In addition, the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH with its project “ICT for Youth in Iraq” matched a grant of $20,000 towards this round, as part of its support to the Angel Network and the Iraqi startup ecosystem.

Tabib Baghdad was established in 2018 and the platform is available as an app and a website. The company started their operations in Baghdad and they plan to cover the rest of Iraq in the coming year. Today, Tabib Baghdad has more than 300 doctors on the platform and they have facilitated more than a thousand bookings. The platform is focused on creating trust between patients and doctors through its review system, that allows users to rate their booking experience after each visit.

Dr. Ali Alkhazaj, founder of Tabib Baghdad commented, ‘’We estimate that there are more than twenty thousand doctors in Iraq today, but most patients are finding their doctors through word of mouth. Tabib Baghdad will allow patients to find a doctor they can trust.” He also commented on the company’s future plans, “with the funding in place, we are looking to optimize our backend technology to make the experience of our patients and doctors more seamless.
Covid-19 has highlighted the potential of telemedicine in Iraq and this is an area that we are keeping a close eye on’’.

Tabib Baghdad has graduated recently from ScaleUp Academy, the accelerator program run by KAPITA where the company received extensive training in preparation for its fundraising process. Mujahid Waisi, the CEO of Kapita, commented, “We are very happy to see the progress that Tabib Baghdad has made, from joining the ScaleUp Academy to raising its first round. Kapita remains committed to supporting founders across their startups’ lifecycle’’.

Bahaaddin Salim, the CEO of Nass Al Iraq, commented, “We see a great potential to disrupt and address the Healthcare sector in Iraq through technology. We believe that Tabib Baghdad has all the right fundamentals to address this potential”. Nass Al Iraq is a holding company that uses innovation, modern management, and digital transformation to transform businesses.

Ali Al Suhail, the manager of the Iraqi Angel Investors Network further commented, “The Healthcare sector in Iraq remains underserved and is being severely challenged by the ongoing Covid-19 pandemic. Investors see the potential of startups addressing those challenges and we expect to see more investments coming into this sector’’.

About IAIN
The Iraqi Angel Investors Network, the first angel group in Iraq, is supported on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) via GIZ together with its implementing Partner Kapita. The Network comprises a group of distinguished Iraqi businessmen and entrepreneurs looking to support the entrepreneurship ecosystem in Iraq and revitalizing the country’s private sector.

Update : Tabib Baghdad has rebranded to Razi Care (razi.care) post investment.

Business LANDSCAPE Magazine Edition 1.0


Business LANDSCAPE is a quarterly magazine published by KAPITA covering important topics regarding the private sector of Iraq.

In our first issue, you will get updates about the Iraqi stock exchange, and the upward trend in the market. In addition to coverage of the fundraising landscape in Iraq.

You will read about the launch of the first Iraqi Angel Investors Network, its purpose and its essential role in developing the Iraqi entrepreneurial scene. Moreover, you will learn more about the mindset shift in the Iraqi startups’ ecosystem, the tools to fill the youth’s skills gap and prepare them to enroll in the private sector.

You will discover more about the current e-commerce sector in Iraq, its progress, recent developments, and potentials. You will know more about the available e-commerce platforms and e-payment methods in Iraq as well. Also, you will get a glimpse into the Iraqi legal system and litigation regarding investment.

This issue provides overviews of the agriculture sector and the industrial sector in Iraq, discussing the historical contexts, challenges, current projects, and recommendations in order to develop those two key sectors to diversify the economy of Iraq.

We also had the absolute pleasure to present you with the interviews we conducted with key figures in the Iraq private sector.

Mohammed Al-Hakim, Careem’s Iraq and Jordan general manager shared with us the journey of Careem in Iraq and expressed his views on the future of Iraqi startups. Careem strives to make a positive change in the transportation sector in Iraq in particular, the economy and society in general.

Duha A. Alatta, the director general of the payments department in the Central Bank of Iraq (CBI), discussed the timeline of e-payment in Iraq, the challenges, the progress, and the future projects to develop the e-payment methods further.

Mohammed Khudairi, businessman and investor, gave us a glance into his life and career and shared with us the challenges and the prospects of investing in the Iraqi market.

KAPITA is beyond delighted to present to you this issue to help you navigate your way through the Iraqi private sector. We hope this issue to be one of many more to come paving the way for all of those interested in this sector, and to unlock the opportunities and overcome the obstacles towards prosperous Iraq.


KAPITA launches the first Iraqi dedicated Angel Network

The Iraqi entrepreneurship ecosystem receives a major boost with the launch of the first Iraqi angel investors network

[Baghdad, Iraq] KAPITA is launching Iraq’s first Angel Investor Network – IAIN (https://iraqangels.net/) that is dedicated to connecting startups with angel investors in order to develop the Iraqi entrepreneurship ecosystem. The network is sponsored by the German Government through GIZ (German Agency for International Cooperation).

The network is the first attempt at an institutionalized investment vehicle for Iraqi startups. It helps founders access the knowledge, experience and connections they require, along with funding to scale and grow their business. The network is also technically supported by the World Bank.

It has some of the most prominent Iraqi angel investors including Shwan Taha and Mohammed Khudairi; both of whom have recently invested in the leading e-commerce platform in Iraq – Miswag. The network also includes Yazen Abu Galal, Amar Shubar and Ahmed Tabaqchali, in addition to a group of distinguished Iraqi entrepreneurs and leading businessmen.

Mujahid Waisi, the CEO and founder of KAPITA has played a key role in shaping up the ecosystem of Iraq. He commented “The Iraqi ecosystem has grown and expanded rapidly over the past few years, Kapita aims to support startups along their journey from incubation to funding”. Ali Al Suhail, the Fund Manager at the Network and who has recently completed his MBA at London Business School added “Access to finance remains one of the key issues facing Iraqi entrepreneurs, the network will provide startups with an institutionalized path to access capital for all Iraqi entrepreneurs”.

Active investors in the Iraqi Angel Investors Network
● Shwan Ibrahim Taha, Chairman of Rabee Securities
● Mohammed Khudairi, Managing Partner of Khudairi Group
● Yazen Abu Gulal, Managing Partner at YAG Capital
● Dr. Alaa J Mousa, CEO of EarthLink Telecommunications
● Jaafar Al Musawi, CEO of Atlas Plast
● Mohamed Al-Hakim, General Manager of Careem in Iraq and Jordan
● Bahaaddin Salim, Co-founder and CEO of NASS Al-Iraq Holding
● Hasan Al-Yassen, CEO of Baghdad Gate Services
● Ali Tariq, Executive Director at Iraqi Private Banks League
● Nour Sabri, Associate Partner at IBM
● Omar Al-Handal, Asset Management Executive at Al-Handal International Group
● Hadi Al-Haidari, CEO of Rawnaq Aldur Company
● Ali Beyatli, Owner of Green Hills
● Amar Shubar, Partner at Management Partner
● Ahmed Tabaqchali, Economic Expert
● Samer Abed, Managing Director at PetrolLog Technologies
● Halat Aziz,
● Rawaz Raouf, Commercial and Regulatory Advisor at Fanoos Telecom
● Zaid Fadhel, Founder of Iraqi Cinema
● Mohammed Shaikley, Senior Director of Investments and M&A at AMEA Power
● Ammar Al Sharifi, Managing Director ALTAYM General Trading Ltd.

About Kapita
Kapita is a private sector development company that aims to empower small and medium-sized enterprises (SMEs) through investment, research, incubation/acceleration, and market development programs. It has recently announced the graduation of 20 startups from its incubation program “Orange Corners Baghdad” in collaboration with the Netherland government and is currently accepting applications for the next edition of the program. Kapita is also running an accelerator program in partnership with GIZ and AsiaCell that focuses on scaling and growing existing startups.

For more information visit, http://www.kapita.iq/

KAPITA Hosted an Angel Investment Webinar in collaboration with the World Bank

In July 2020, KAPITA successfully hosted a webinar in collaboration with The World Bank Group on Early Stage Investments, for KAPITA’s Iraqi Angel Investors network. The facilitators introduced some of the fundamental concepts and approaches around angel investing, along with common practises and techniques for getting started and improving the overall investment experience.

The two-hour session was led by Aun Rahman, a Global Specialist in Finance Competitiveness & Innovation MENA, for the World Bank and by Jeremy Bauman, Lead Consultant in Finance Competitiveness & Innovation MENA. The session was attended by KAPITA’s Angel Network.

Angel investing is quite challenging, it requires both time and money and it is high risk. In developed markets, and increasingly in emerging markets, angel investors often band together to invest, thus sharing the workload and reducing risk. Collectively, angel networks seek to consolidate the knowledge, networks and resources of individual angels to make better informed decisions and improve the odds of success by supporting companies’ post-investment. Thereby, the session focused on four key aspects:

What is Angel Investing and the role of angel capital
Who gets involved in Angel Investing
Structured Angel Investment and Key success factors
The importance of Due Diligence

This webinar is one of many sessions that KAPITA will be providing for the Iraqi Angel Investors Network.