The region’s first private-public investment platform ‘Beban’

Hope Ventures, the investment arm of Hope Fund, announces its co-investment in ‘Fabric Aid during the ninth episode of the entrepreneurship-themed reality television show and the region’s first private-public investment platform ‘Beban.’

Through Beban, ‘Fabric Aid, a social enterprise that optimizes the collection, sorting,
upcycling, and resale of second-hand clothes through socially conscious and sustainable brands, founded by Omar Itani, fundraised USD 300k from Hope Ventures and UK-based Alfanar Venture Philanthropy represented by Mr. Shennouda Bissada, and Bahraini investor Mohammed Alaali who is the Managing Director of United Enterprises.

As an investment firm, Hope Ventures invests in scalable businesses that are deeply
rooted in their commitment to building value with forward-thinking founders who revolutionize their respective sectors. The firm offers strategic capital to accelerate the
growth of its portfolio companies to new markets through its vast resources of private and public partners as well as a regional network of industry-expert mentors.

On Beban, Hope Ventures is represented by H.E. Aymen bin Tawfiq Almoayed, Chairman of Hope Fund, who also moderates the episode. Hope Ventures’ investment in Fabric Aid reflects its commitment to investing in forward-thinking founders with innovative businesses that solve existing challenges and have plans to grow and expand on a regional level.

Omar Itani, Co-Founder and General Manager of Fabric Aid, shared: “We are thrilled to announce our successful fundraising round through the Beban TV show. This milestone propels FabricAID's mission of creating a socially and environmentally conscious value chain for the apparel industry. Our goal is to make decent clothing affordable for everyone while minimizing harm to the environment and society. This achievement is a testament to the dedication of our team and the invaluable support of our investors and partners. Together, we are shaping a future where sustainability and accessibility redefine the fashion industry."

It is noteworthy to mention that the Beban TV show is the region’s 1st private-public investment platform through its formed partnerships with the Khalifa Fund for Enterprise
Development (United Arab Emirates), the SME Development Authority (Sultanate of Oman), GFH Capital (Kingdom of Saudi Arabia), Zain Kuwait and Sabah Al Ahmad Center for Giftedness and Creativity (Kuwait), and the Labor Fund Tamkeen (Kingdom of Bahrain).

Beban season 3 was filmed in the Middle East’s newest exhibition and convention
center, Exhibition World Bahrain (EWB), and showcases 41 businesses from across the MENA region as they pitch in front of a panel of regional, reputable investors for equity investment and strategic business development opportunities that can accelerate the growth of these businesses into new markets.

A new episode of Beban will air every Wednesday of this month on Bahrain TV at 6 PM
(+3GMT), Oman TV Cultural at 9:10 PM (+3GMT), AlRai TV at 9:30 PM (+3GMT), SBC Channel at 10 PM (+3GMT), Saturday at 5:30 PM (+3GMT) on Abu Dhabi TV, or
anytime on Shahid.

To stay up to date with Beban, make sure you follow the show’s accounts on social
media @bebanme.