Trend Micro in support of MENA startup ecosystem
Appoints former regional VP Ihab Moawad to head its venture fund Trend Forward Capital
Trend Micro is keen to support entrepreneurship in the region through its venture capital arm Trend Forward Capital.
Trend Forward Capital has consequently appointed Ihab Moawad, previously heading Trend Micro operations in the region, as its new head tasked with finding and manage venture fund investments in MENA.
The venture fund will offer approved startups financial backing, access to its global strategic alliances, as well as its channel of more than 28,000 partners. Trend Forward Capital is making its first portfolio investment into the market with an Egyptian based business, Instabug. Initial success for Instabug include securing investment from Accel Ventures, a Silicon Valley investor, and reaching out to 1 Billion users.
Moawad’s five year tenure as head of Trend Micro in the region was marked by notable achievements, including tripling revenue and doubling the team size. “Working with Trend Micro, and helping to secure the region has been a rewarding experience for me. In my time with Trend Micro we reached many a milestone. Today, with Trend Forward Capital, I can help businesses realize their true potential, and give companies a platform to grow,” added Moawad.
Instabug co-founder and CEO, Omar Gabr stated, “We are proud of our momentum, but not taking our eye off what is needed for further growth. Trend Forward Capital is a key part of helping us reach our vision as a scalable and operationally efficient company.”