Berytech to launch its second fund

Investments in three new companies

The Berytech fund has recently invested in three new companies: Cardio Diagnostics, Mistile, and Cook and Eat.

Cardio Diagnostics was founded by entrepreneur Ziad Sankari and is active in the health technology sector. Mistile is an e-commerce platform for luxury brands, co-founded by Fadi Dabbas and Izzat Traboulsi (owner of FTC, agents of Hugo Boss). Cook and Eat is an online community for cooking founded by Hussam Kayyal, advisor to the Minister of Telecommunication.

Sami Beydoun, Managing Partner of Berytech Fund Holding, said that investments in each newly added company range between $115,000 and $500,000. “The funding allocated to each enterprise is decided based on the business plan of the candidate, the growth potential it has, the market needs, and the essential amount requested to fully establish the entity,” said Beydoun.

“We put a lot of emphasis on the scope of the company or its targeted clientele,” he said. Accordingly, if the applying company caters only to a local market, it won’t be benefiting from Berytech’s funding support.

On another level, Beydoun announced that a new fund by Berytech, Berytech II, will be ready by end-2013. The fund has an equity of up to $30 million and will invest in creative industries and Information Communication Technology (ICT) firms. “We decided to dedicate this fund to ICT and creative industries because it is a growing sector and the local youth has a lot of talent,” Beydoun said.