• Spain-based search fund investment firm Moonbase Capital has launched a $15 million investment vehicle aimed at backing talented entrepreneurs in acquiring and growing small to medium-sized businesses globally.
• Moonbase’s second investment vehicle will be spearheaded by Moonbase Capital's leadership team, Tamer El Bahay and Tarek El Gammal. 
• The fund will invest in around 15 SMEs within three-four years in emerging markets, including Latin America, Southeast Asia, and the Middle East.
• Fundraising for the new vehicle is expected to conclude a first close in Q1 2025, with capital sourced primarily from family offices and high-net-worth individuals in Europe, Egypt and the GCC.

Press release:

Moonbase Capital, the leading search fund investment firm, today announced the launch of its second investment vehicle, aimed at backing talented entrepreneurs in acquiring and growing small to medium-sized businesses globally.

The new $15 million investment vehicle will be spearheaded by Moonbase Capital's expanded leadership team, Tamer El Bahay and Tarek El Gammal. Both bring decades of experience in operations, finance, and investing across multiple industries.

Ibrahim Abdel Rahim, Founding Partner of Moonbase Capital, stated, "We're excited to launch our second vehicle, targeting larger investments and supporting bigger deals than our first. With an expanded team and increased capital, we're well-positioned to back the next generation of global search fund talent."

Tamer El Bahay added, "Search funds represent an exciting asset class that enables talented operators to become entrepreneurs through acquisition. We're eager to leverage our experience and networks to support searchers in identifying, acquiring, and boosting already successful businesses to the next level.”

Tarek El Gammal added, "The appeal of search fund investing lies in its blend of venture capital's high returns with private equity's lower risk profile. With 60% of our investments in Europe and 40% in high-growth developing economies, our new vehicle is poised to deliver strong portfolio diversification and attractive returns."

Building on Moonbase Capital's successful track record of investing in search funds globally since 2020, this new vehicle expands the firm's reach. While the first $10 million investment vehicle backed 35 searchers, primarily in Europe with some international investments, the second vehicle will cater to a broader global market, including Latin America, Southeast Asia, and the Middle East. Moonbase Capital plans to invest in around 15 SMEs during the 3-4 years investment period.

Fundraising for the new vehicle is expected to conclude a first close in Q1 2025, with capital sourced primarily from family offices and high-net-worth individuals in Europe, Egypt and the Gulf region.