Sarava Founder Launches $30M VC Fund Targeting Iraqi Startups

Saeed Rahmani, the founder of Iranian investment firm Sarava, has partnered with Mohammad Al-Hakim, former managing director of Careem in Iraq and Jordan, to launch a new venture capital fund called EQIQ.

According to a report by Wamda, cited by Digiato, the fund is based in Abu Dhabi and focuses exclusively on investing in Iraqi startups. So far, EQIQ has invested $8.5 million across five startups operating in sectors such as e-commerce, logistics, and fintech.

The fund is currently in the process of raising an additional $15 million, which would bring its total size to $30 million.

In an interview with Wamda, Rahmani emphasized Iraq’s untapped potential for innovation. He is best known as the founder and former CEO of Sarava, a prominent Iranian venture capital firm that exited its stakes in leading Iranian tech companies Digikala and Hezardastan Group last year.