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The Venture Codex

Overview

Venture capital firm investing in early-stage MENA startups.

Founded

2013

Deals ยท 12mo

1

Stage focus

Seed
Series A

Geographic focus

Egypt
Jordan
Saudi Arabia
United Arab Emirates

Sector focus

Business Development
Financial Services
Venture Capital

Investment portfolio

20rounds
NAMEDATESIZE
Yozo.ai
Feb 2026Participated
$2 MSeed
Hala
Sep 2025Participated
$157 MSeries B
Hulexo
Sep 2024Led
$1 MSeed
Nearpay
Dec 2023Participated
$14 MSeries A
Gameball
Feb 2023Participated
$4 MSeed
Money Fellows
Oct 2022Led
$31 MSeries B
Subsbase
Aug 2022Participated
$2 MSeed
Khazenly
Jun 2022Led
$3 MSeed
Repzo
Apr 2022Led
$1 MOther Equity
Lucky
Mar 2022Participated
$25 MSeries A
Retailo Technologies
Feb 2022Participated
$36 MSeries A
Merit Incentives
Nov 2021Participated
$5 MSeries A
Yozo.ai
Feb 2026Participated
$2 MSeed
Hala
Sep 2025Participated
$157 MSeries B
Hulexo
Sep 2024Led
$1 MSeed
Nearpay
Dec 2023Participated
$14 MSeries A
Gameball
Feb 2023Participated
$4 MSeed
Money Fellows
Oct 2022Led
$31 MSeries B
Subsbase
Aug 2022Participated
$2 MSeed
Khazenly
Jun 2022Led
$3 MSeed
Repzo
Apr 2022Led
$1 MOther Equity
Lucky
Mar 2022Participated
$25 MSeries A
Retailo Technologies
Feb 2022Participated
$36 MSeries A
Merit Incentives
Nov 2021Participated
$5 MSeries A
20
Items
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Insights

Time horizon

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Deal Distribution

Arzan Venture Capital: 20 funding rounds are recorded in the selected participation categories.All available history.
Arzan Venture Capital: 20 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed24
Series A26
Series B11
Other Equity13

Monthly Deal Activity

Arzan Venture Capital: 20 deals are recorded across 110 months.All available history.
Arzan Venture Capital: 20 deals are recorded across 110 months. All available history
MonthDeals
Sep '171
Oct '170
Nov '170
Dec '170
Jan '180
Feb '180
Mar '180
Apr '180
May '180
Jun '180
Jul '180
Aug '181
Sep '180
Oct '180
Nov '180
Dec '180
Jan '190
Feb '190
Mar '190
Apr '190
May '190
Jun '191
Jul '190
Aug '190
Sep '190
Oct '190
Nov '190
Dec '190
Jan '200
Feb '200
Mar '200
Apr '200
May '200
Jun '200
Jul '200
Aug '201
Sep '200
Oct '200
Nov '200
Dec '200
Jan '210
Feb '211
Mar '210
Apr '210
May '210
Jun '211
Jul '210
Aug '210
Sep '212
Oct '210
Nov '211
Dec '210
Jan '220
Feb '221
Mar '221
Apr '221
May '220
Jun '221
Jul '220
Aug '221
Sep '220
Oct '221
Nov '220
Dec '220
Jan '230
Feb '231
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '231
Jan '240
Feb '240
Mar '240
Apr '240
May '240
Jun '240
Jul '240
Aug '240
Sep '241
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '251
Oct '250
Nov '250
Dec '250
Jan '260
Feb '261
Mar '260
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

Arzan Venture Capital: Enterprise Software is the largest displayed sector by deal count (11 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Arzan Venture Capital: Enterprise Software is the largest displayed sector by deal count (11 deals). All available history
SectorDeals
Enterprise Software11
Networks, Cloud & Communication6
Fintech6
E-Commerce & Retail5
Professional Services3
AI & Machine Learning2
Transportation & Logistics2
Travel & Hospitality1
Hardware & Robotics1
Health & Life Sciences1
Food & Agriculture1

Deal Size Distribution

Arzan Venture Capital: 20 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Arzan Venture Capital: 20 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M11
$5M-$10M3
$10M-$25M1
$25M-$50M4
$50M-$100M0
$100M-$250M1
$250M-$500M0
$500M-$1B0
$1B+0

Deals By Geography

Arzan Venture Capital: United Arab Emirates has the largest recorded deal count among the displayed regions (7 deals).All available history.

Top 5 of 5 regions; European countries are grouped as Europe.

Arzan Venture Capital: United Arab Emirates has the largest recorded deal count among the displayed regions (7 deals). All available history
RegionDeals
United Arab Emirates7
Egypt6
Saudi Arabia4
Jordan2
United States1
Arzan Venture Capital: 20 co-investors are shown, with Shorooq Partners sharing 4 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Investment Strategy

Arzan Venture Capital: Led accounts for 30% and participating for 70% of round participation.All available history.
Arzan Venture Capital: Led accounts for 30% and participating for 70% of round participation. All available history
CategoryDeals (count)Share (%)
Led630%
Participating1470%
Arzan Venture Capital: Single-lead accounts for 17% and co-led for 83% of lead dynamics.All available history.
Arzan Venture Capital: Single-lead accounts for 17% and co-led for 83% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead117%
Co-led583%

Team

Hasan Zainal

Founder and Managing Partner