Iraq-based business hub KAPITA has launched the country's first angel investor network to support home-grown innovative startups looking to raise funds.

The network, sponsored by the German Government through GIZ (German Agency for International Cooperation), will provide Iraqi startup founders with access to information and necessary connections as well as funding to help them scale and grow their business. 

“Access to finance remains one of the key issues facing Iraqi entrepreneurs, the network will provide startups with an institutionalised path to access capital for all Iraqi entrepreneurs,” said Ali Al Suhail, the fund manager at the network 

The network consists of a group of distinguished Iraqi entrepreneurs and leading businessmen along with other angel investors.

“The Iraqi ecosystem has grown and expanded rapidly over the past few years, Kapita aims to support startups along their journey from incubation to funding,” said Mujahid Waisi, the CEO and founder of KAPITA.