Varys Capital Ventures is nearing completion of its first investment round, led by Sheikh Nayef Bin Eid Al Thani and participation by Aquanow Ventures
NEW YORK, July 29, 2024 /PRNewswire-PRWeb/ -- As of July 2024, Varys Capital, an early-stage venture capital firm, has strategically deployed capital into multiple tier 1 investments, mostly entering pre-seed and seed rounds, all in the form of equity. Some investments are accompanied by a token warrant, which offers additional liquidity flexibility and an equity hedge.
Notable investments include Movement Labs, Nirvana Labs, and Tread.Fi. Since its inception, Varys Capital's portfolio has experienced substantial growth, producing a 15.8x TVPI and an IRR of 585%.
Earlier in the year, Varys Capital partnered with FSRA-registered FundRock Investment Management Services (ME) Ltd. to establish a UAE feeder fund in Abu Dhabi within ADGM.
Varys Capital's Managing Partner Darius Askaripour states: "Amassing a portfolio of high-performing companies requires tenacious effort and a disciplined process for sourcing capable founders addressing real market needs. We're honored to have MBS Investments, representing the interests of Sheikh Nayef Bin Eid Al Thani, serve as our lead investor as our operational focus moves toward a region positioned for substantial growth."
MBS Investments, representing Qatari Royal, Sheikh Nayef Bin Eid Al Thani, entered the fund as the lead investor. The ruling royal family's collective net worth is estimated at $335 billion. With a passion for investing in high-potential business opportunities, Sheikh Nayef Bin Eid Al Thani established his private office to create strategic partnerships with innovative companies in various verticals, including healthcare, fintech, real estate, oil and natural gas, and education. The private office aims to identify and capture potential business opportunities in the region and to promote an open, inclusive culture within the organization.
"With the increased demand for structured digital asset products such as Bitcoin and Ethereum ETFs, traditionally conservative family offices are broadening their mandates to gain portfolio exposure to blockchain offerings. Progressive funds such as Varys Capital tick all the boxes but do so within a carefully constructed framework, allowing professionally managed outfits to greatly reduce the risk involved in such a nascent investment vehicle", states Nadeem Hussain, MBS Investment's CEO.
Some unique features of the recent product offering are, but not limited to:
- An investment thesis focused on companies with a viable market product fit and a clear path to acquisition, focused on blockchain-enabled solutions that bridge the gamut into traditional industries exhibiting strong growth potential
- Quantitative capacity to execute trades of liquid positions, creating a robust profit layer
- In-cycle LP distributions as exits are crystalized, allowing for strategic de-risking
- Liquidity provisioning mandate adding another alpha generation center to the fund
- Established geographic hubs in New York City, Dubai, and Bangkok
Darrach Campbell, Varys Capital's Head of Middle Eastern Affairs, adds, "What separates Varys Capital from other VCs in the space is our robust quantitative capacity, "boots on the ground" approach to sourcing unique deal flow at the earliest stages, and vast global network of strategic partners."
Aquanow is a leading digital assets infrastructure provider trusted by over 300 firms globally and facilitates billions of dollars of trade volume each month for a broad range of use cases. Aquanow Ventures, managed by AQN Digital, is the company's early-stage crypto venture fund.
Michael Kwok, CIO of Aquanow Ventures, comments, "Varys Capital's team originating from traditional markets brings a level of maturity and elegant sophistication to the market, which made it a simple decision, albeit a strategic one, to support this fund and further enhance our fruitful working relationship."
Varys Capital will close its $75 million raise through two subsequent rounds and will deploy heavily throughout the MENA region, a market experiencing meteoric growth.
Media Contact
Darrach Campbell, Varys Capital, 971 052-739-2760, [email protected] , https://varys.capital
SOURCE Varys Capital
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