Top 50 Rising Stars 2021 continued (in alphabetical order by CVC unit): Taraec Mohamed Hussein, investment head, Fatima Gobi Ventures
Taraec Hussein leads the investment team of a corporate venture capital (CVC) and traditional venture capital hybrid called Fatima Gobi Ventures (FGV). FGV is a GP partnership between Fatima Ventures, the corporate venturing arm of Pakistan-headquartered diversified conglomerate Fatima Group, and China-based emerging market VC firm, Gobi Partners.
He said: “I led the establishment of FGV in 2019 and in May 2020, we launched our maiden fund, Techxila Fund I, a $20m early-stage fund targeting startups in Pakistan. Following the launch, I led the investment in five tech companies across mobility, fintech, business-to-business commerce, industrial software and travel.
“We are currently the most active CVC in Pakistan and our investees have drawn some illustrious backers from the west including Y Combinator, Draper, First Round and more. I lead the following functions for the GP and fund: fundraising, investments, monitoring, LP engagement, LP reporting, hiring and other general administration functions.
“Prior to my role at FGV, I was an investment vice-president at Gobi Partners since 2017. I was mentored by Thomas Tsao, the founding partner of Gobi Partners and learnt VC best practices under his guidance. Prior to joining Gobi Partners, I was an investment banker for six years with the largest bank in Malaysia, Maybank.”
Tsao added: “Taraec has been instrumental in the establishment of Fatima Gobi Ventures and its maiden fund in Pakistan, Techxila Fund I in 2019. He played a key role in fundraising – secured $12m for the first close, deal sourcing as well as execution – completed five investments to date – and helped secure follow-on funding for portfolio companies from notable investors in the US, Middle East and Southeast Asia, most of which were first-time investors in a Pakistan-based startup.
“In less than one year since launch, Techxila Fund I has already generated an uplift, achieving a MOIC (multiple on invested capital) of 1.3 times as of September 30, 2020.”
