MedSecurities invests in Diwanee
Future funding will target traditional companies
Diwanee, a Lebanon-based digital media company that offers content targeting women in the Arab world, mainly in the GCC, announced receiving a $3.25 million investment from MedSecurities, a subsidiary of BankMed.
MedSecurities offers brokerage services as well as structured investment products designed for private and corporate investors. MedSecurites chose to invest in Diwanee because it appreciates its business model, its market niche, and its management, said Khaled Zeidan, Executive General Manager at MedSecurities: “In our investments we focus on companies that have their ‘kitchens’ in Lebanon, but that have a broader scope and audience. Such establishments have better survival chances.”
Diwanee has three platforms in its portfolio, all targeting women: Yasmina.com for lifestyle, beauty, and fashion; 3a2ilati.com for mother and baby, family health, beauty, and recipes; and Mooda.com, for e-commerce selling bags, shoes, jewelry, and accessories. The firm also runs two platforms affiliated with Yasmina.com: Wikeez.Yasmina.com for entertainment, and Wayyana.Yasmina.com, a social network.
Zeidan said that the funding budget responds to the company's needs to fulfill its business objectives. The capital will primarily help Diwanee further localize its content to more closely target GCC women. It will also help the firm develop its e-commerce services on Mooda.com to better showcase talented local designers.
According to Zeidan, MedSecurities has been active in the private placement business since 2006, with investments reaching $700 million. “We have done many similar transactions in the past with companies including Al Rifai, Solidere International, Milia M, and Beirut Terraces, among others,”
The company is looking to strengthen its presence in the private equity field. Zeidan said: “We have several deals in the pipeline and we also are involved with Bader’s Building Block Fund and MEVP.”
MedSecurities does not intend to make additional investment in digital media for now. According to Zeidan the company’s focus will be shifting towards more traditional companies. “The target company must have a mature business model, strong management and cash flow, a clear strategy, and should offer an easy exit for investors,” he said.
Date Posted: Jun 27, 2013