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In 2020, Moonbase Capital began investing in SFs globally. With its first $10M vehicle, the firm backed 35 searchers, primarily in Europe, and facilitated six acquisitions, including Caris Servizi in Italy, CW Group and ASP Group in France, Leaseir in Spain, and EQ Photonics and Dedicom in Germany.
The SF investment firm has just announced the launch of its second investment vehicle, aimed at supporting talented entrepreneurs in acquiring and growing SMEs. The fundraising for this second $15M vehicle is expected to make a first close in Q1 2025, with most of the capital coming from family offices and high-net-worth individuals in Egypt and the Gulf region. Moonbase Capital plans to invest in around 15 SMEs during an investment period of 3 to 4 years. While the first investment vehicle focused primarily on Europe, the second will cater to a broader global market, including Latin America, Southeast Asia, and the Middle East.
Additionally, the company has expanded its leadership team with two new Managing Partners, Tamer El Bahay and Tarek El- Gammal, who bring decades of experience in operations, finance, and investing across multiple industries.
Tamer El Bahay and Tarek El Gammal bring a wealth of expertise in the SME sector, having built and led successful ventures across various industries. Tamer, a prominent Egyptian entrepreneur in the food sector, has 17 years of SME experience, including a decade as CEO, overseeing two major exits: his family’s business, which achieved 85% market share and was acquired by Kellogg’s for $50 million, and a frozen bakery venture acquired by Edita in 2023. He continues to lead Molly’s Bakery, reshaping consumer habits in Egypt with innovations like packaged peanuts and energy bars.
Tarek, with two decades of experience as a founder, investor, and consultant, has launched four ventures, including Egypt’s first online health store, Nature’s Market. As the founder of Ubuntu Investments, he has advised SMEs on feasibility studies and valuations, managing six successful exits. Through Ubuntu Consulting Group, he empowers SME founders with growth strategies and operational excellence, leveraging his leadership experience from PepsiCo and Sadia International, and mentoring startups through organizations like IFC, EBRD, and Flat Six Labs.
Ibrahim Abdel Rahim, Founding Partner at Moonbase Capital, said, “We’re excited to launch our second vehicle, targeting larger investments and supporting bigger deals than our first. With an expanded team and increased capital, we’re well-positioned to back the next generation of global search fund talent.“
Tamer El Bahay added, “SFs represent an exciting asset class that enables talented operators to become entrepreneurs through acquisition. We’re eager to leverage our experience and networks to support searchers in identifying, acquiring, and scaling already successful businesses to the next level.”
Tarek El Gammal commented, “I was drawn to the SF asset class for its strong safety profile and impressive returns. With 40% allocated to developing economies and 60% to Europe, our second investment vehicle will offer excellent portfolio diversification.“
