A few months ago, we marked ten years of A15– ten years of backing visionary founders who’ve built real, enduring companies. It’s been a decade filled with learning, growth, and many hard-earned wins.
From day one, our goal was clear: to be the kind of investor we’d want on our own cap table. Show up when it matters, offer meaningful support beyond capital, and help founders build businesses that balance ambitious growth with solid fundamentals.
Over the years, these ideas have become common language in venture capital. “Founder-first,” “value beyond the check,” “sustainable growth”; phrases you’ll hear almost everywhere now. And that’s perhaps a good thing.
For us, these weren’t just statements; we built our model around them, kept our heads down, and did the work, quietly showing up, helping where we can, and learning from the people building the real stuff.
These principles have always guided specific actions at A15: providing hands-on support with hiring critical roles, actively facilitating strategic partnerships, actively driving fundraising discussions, helping shape product-market fit, and being deeply involved in key operational decisions. This practical, day-to-day involvement sets us apart in the eyes of our founders and has consistently driven results.
Looking back, we’re proud of what’s come from that approach; and even more grateful to the founders who’ve let us be part of their journey.
The early years were about laying the groundwork; staying close to our companies, supporting where we could, and trusting that the results would follow. A decade in, we’re still doing that work every day. But what’s different now is that we have results to show.
As we marked our tenth anniversary, we hit a milestone that means a lot to us: achieving just over 10x in distributions relative to paid in capital, also known as “DPI” in the industry. In simple terms, we’ve returned more than ten times the capital invested in our first fund back to our limited partners, with 15 active portfolio companies still remaining in that fund.
It’s the kind of outcome that’s rare; not just in MENA and in emerging markets, but globally. It’s a quiet yet powerful validation of the approach we’ve believed in from the start; deep founder support and operational involvement.
But what we’re proudest of isn’t just the financial returns. It’s the community that’s grown around this work—something we put a lot of time and care into, and which has quietly grown to become A15’s greatest strength. It’s what we’re known for now–a powerful network where founders genuinely support each other: helping launch new markets, open doors, close deals, raise capital, introduce key hires.
These aren’t isolated, one-off favors; they’re part of how this community operates.What initially required significant effort from our team has evolved into something fully organic. And we’re doing more to keep it strong: introducing shared upside through carry, encouraging board participation across portfolio companies, and creating structured mentoring programs that pair seasoned founders with first-time ones.
We’re often referred to as “a bit of a cult”. And while we’re not huge fans of the label, we get where it comes from; it captures something real about what A15 has become. A tight-knit, all-in kind of environment where people genuinely care, and show up for each other.
Some founders even consider us a co-founder, reflecting precisely the role we aim to play. When we talk about deep founder support and being operationally involved, it’s not just a tagline—it’s the work. We’re in the trenches, alongside founders, helping companies hire their first few key team members, think through product-market fit, build and optimise internal processes, or even roll up our sleeves to close a deal.
This community of high-quality, driven founders, has helped us achieve real, tangible outcomes.
We’ve had eight successful exits so far, including two rare “dragon” outcomes (an investment that returns the entire fund when exited): TPAY Mobile’s acquisition by Helios Investment Partners, and Connect Ads’ acquisition by Aleph Group. Our most recent was in 2024, when Link Development was acquired by Beyon Solutions.
Today, A15’s portfolio includes 40 active companies operating across more than 20 countries. That kind of scale didn’t come from chasing growth for the sake of it; it came from working closely with founders to help them build businesses that can cross borders, unlock new markets, and create long-term value.
As we look forward, we’re staying true to the approach that’s gotten us here; working closely with our portfolio to create and realize value while actively deploying funds to back the next wave of exceptional founders.
We’re looking for founding teams with bold ambition and the grit to match it. Teams that are clear in their thinking, data-driven, and intentional in execution. We focus on early-stage technology companies, ideally entering at the idea to seed stage. Though rooted in MENA, we look for businesses with the potential to scale far beyond our home region.
As we celebrate ten years and a 10x realized return milestone, we’re deeply grateful to the founders who’ve trusted us with their vision, and to the limited partners who’ve believed in our model.
Here’s to the next decade of building; with the same focus, the same energy, and even bigger ambition.
