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Kuwait – Hope Ventures, the investment arm of Hope Fund, co-invests USD 60k in Bahrain-based business ‘Achar It’ alongside a private Saudi investor, Dr. Khalid AlTawil, on the second episode of Beban Season 3, which aired on the region’s first and biggest video-on-demand platform ‘Shahid’ for free, Bahrain TV, SBC Channel, AlRai TV, and Oman Culture TV.
During the second episode, Achar It, a business that produces homemade Bahraini-flavored relishes and pickled sauces that are made with organic and natural materials without the use of food preservatives, founded by Ameena Abdulrahman alongside her son Abdulrahman Ahmed, raised USD 60k from Hope Ventures and Dr. Khalid Al-Tawil, a Super Saudi Angel Investor and Partner at Select Ventures Dubai.
Commenting on their co-investment in Achar It, Fajer Saleh Al Pachachi, General Manager at Hope Ventures, the investment arm of Hope Fund and producers of Beban TV show, shared: “I am excited to announce Hope’s co-investment in Achar It alongside Dr. Khalid AlTawil. Their ability to leverage their heritage and expertise showcases their strategic vision and execution capabilities and further highlights how their unwavering passion and dedication transformed their family legacy into a viable and thriving business that successfully fundraised and is on the path of growth.”
She added: “I have full confidence in their growth capabilities, and we look forward to supporting them in achieving their goals alongside Dr. Khalid, who has experience accelerating the growth of similar companies within his portfolio and may provide his insights to guide them towards a successful growth strategy.”
On his part, Dr. Khalid Al-Tawil, Saudi Super Angel Investor and Partner at Select Ventures Dubai, shared: "I am delighted to co-invest in Achar and to support its strategic expansion into new markets. What sparked my interest in Achar is their commitment to innovate while blending local tradition with modernity. Their products have garnered consumer appeal, and I believe that there are vast untapped opportunities for their offerings in unexplored markets. Alongside Hope, I am confident in our ability to successfully penetrate and thrive in these new territories, solidifying Achar as a Bahraini brand synonymous with premium quality and culinary delight."
Abdulrahman Ahmed, Co-Founder of Achar It, commented on the investment by saying: “The Achar It team is thrilled and humbled by the overwhelming support we received during our fundraising journey. We are grateful to our investors for their trust and belief in our vision. With their support, we are excited to embark on a journey of growth, both locally and worldwide. It has been a beautiful and challenging road; we are grateful for every obstacle we encountered. This milestone marks a turning point for Achar It as we aim to introduce the rich flavors of a Bahraini taste to the world.”
The episode witnessed 4 eager entrepreneurs from across the GCC pitch to a panel of investors for the opportunity to seize investment and business opportunities. Investors on the panel comprised avid investors from the private sector, including Hope Ventures, Basel AlAbdulkarim, Founder and CEO of We Energy, Suhail Algosaibi, Chairman of Tenmou, and Dr. Khalid AlTawil, a Partner at Select Ventures Dubai and a Super Angel Investor from Saudi Arabia.
Episode two’s panel of investors comprised Dr. Khalid Al-Tawil, Saudi Super Angel Investor and Partner in Select Ventures Dubai, Basel AlAbdulkarim, Founder and CEO of We Energy, and Suhail Algosaibi, Chairman of Tenmou. It was moderated by His Excellency Aymen bin Tawfiq Almoayed, Chairman of Hope Fund, who was also representing Hope Ventures’ investments.
It is noteworthy to mention that the Beban TV show is the region’s 1st private-public investment platform through its formed partnerships with Khalifa Fund for Enterprise Development (UAE), the SME Development Authority (Oman), GFH Capital (KSA), Zain Kuwait and Sabah Al Ahmad Center for Giftedness and Creativity (Kuwait), and the Labor Fund Tamkeen (Bahrain).
Beban season 3 was filmed in the Middle East’s newest exhibition and convention center, Exhibition World Bahrain (EWB), and showcases 41 businesses from across the MENA region as they pitch in front of a panel of regional, reputable investors for equity investment and strategic business development opportunities that can accelerate the growth of these businesses into new markets.
A new episode of Beban will air every Wednesday of this month. You can watch the next episode airing on January 17, 2024, on Bahrain TV at 6 PM (+3GMT), Oman TV Cultural at 9:10 PM (+3GMT), AlRai TV at 9:30 PM (+3GMT), SBC Channel at 10 PM (+3GMT), or anytime on Shahid.
Beban Season 3 recognizes its Country Partners, Khalifa Fund for Enterprise Development (UAE), the SME Development Authority (Oman), GFH Capital (KSA), Zain Kuwait and Sabah Al Ahmad Center for Giftedness and Creativity (Kuwait), and the Labour Fund Tamkeen (Bahrain) and sponsors, Gulf Air, Asia Jewellers, Ahlan App, AlZayani Motors, Exhibition World Bahrain, Kuwait Finance House – Bahrain, TRACCS Bahrain, Bapco energies, and Gulf Media International for their affirmed commitment to empowering regional entrepreneurs and accelerating their growth through investment, knowledge, and access to business opportunities.
To stay up to date with Beban, make sure you follow the show’s accounts on social media @bebanme.