Hope Ventures co-Invests in Beto Furniture’s $106,000 investment round

Manama, Feb. 28 (BNA): Hope Ventures, the investment arm of Hope Fund, co-invested alongside the private sector in Beto, a furniture business specializing in modern, minimalistic designs for affordable prices, in a $106,000 investment round made on the final episode of its show, Beban. With a vision to expand beyond Bahrain, the business offers a wide range of furniture combining elegance and comfort with functionality and affordability, while adopting a consumer-first mind-set. Beto utilizes wood and iron to craft pieces including wardrobes, TV units, and more. Hope Ventures offered Beto Furniture a joint investment alongside Khaled Al Hammadi from Dividend Gate Capital. Additionally, Hope partnered with BMMI to support the business with regional distribution as part of its ongoing goal to enter regional markets. Beto was also invited to join the Entrepreneur Organization Accelerator, offered by Mohamed Al Aali. "Given the recent boom in minimalist furniture, Beto is designed to meet the needs of customers who want to stay within their budget and buy high-quality pieces made with durable materials," Ahmed Hameed, Founder of Beto, said. "This investment from Hope Ventures and Dividend Gate Capital will open doors for our business to grow not only in Bahrain but gain regional attention as we continue to expand our product line.” Hope Ventures General Manager, Fajer Alpachachi, said at Hope, ``they identify high potential, scalable businesses led by promising entrepreneurs and Beto is an example of that." "The business founders’ idea quickly took off, acting as a true testament to the resilience of Bahraini entrepreneurs. Through participating in Beban, Beto was able to raise an investment from strategic investors, gaining a unique opportunity to develop the business beyond its current market to branch out regionally," Alpachachi said. “Beban opens multiple doors of opportunity for business owners, and through the show, Beto was accepted into the Entrepreneur Organization Accelerator, and as a result, will gain direct access to expert mentors with a successful track record in similar industries. This will ensure that the entrepreneurs receive continuous support as they grow and scale their business towards regional and global success,” Alpachachi added. The investor panel in the manufacturing episode, which is the last episode of season one of Beban, comprised of Khaled Al Hammadi, Mohamed Al Aali, and Sami Abbasi. Beban took place over the course of this month, showcasing several sectors including technology, food and beverage, sports, and manufacturing. The program gave businesses the opportunity to pitch their projects and undergo negotiations for various investment opportunities that introduced Bahrain to the entrepreneurial world.