Alternative Investment

Vegan cheese producer in Beban receives $32,000 funding

Bahrain – Hope Ventures, the investment arm of Hope Fund, and two venture capitalists have co-invested a total of $32,000 in Jomon for Food during the third episode of Beban Season 2.

The Bahrain-based facility, founded by Maryam Almansoori, produces alternative dairy products, such as vegan cheese, labneh, yogurt, and butter.

Two investors on the panel – BAFCO Group CEO Khalid Alamin and RS Management president and founder and Villa Mamas Restaurants owner and founder Roaya Saleh – joined Hope Ventures in pumping cash into Jomon for Food.

The panel that also included Asad Sons chief executive Moslem Asad, was moderated by Hope Fund Chairman Aymen Almoayed as the representative of Hope Ventures.

Commenting on the fund-raising, Ms Almansoori said: “Jomon started as a home business after I had decided to cut off dairy two years prior and is now the first facility for making vegan cheese in Bahrain since 2019. I am proud of this milestone, as it is a testament to the validity of my product and the trust that the strategic investors have in local businesses and their scalability. I look forward to utilising their wealth of knowledge in the F&B sector to further develop the business and expand regionally and internationally.”

Testament

According to Hope Ventures general manager Fajer Al Pachachi, the founder and team behind any start-up is as important as the business itself in deciding whether to invest or not.

“Maryam Almansoori is a testament to our ethos as she comprises the right set of skills, drive, determination, and commitment to grow her business, which ultimately resulted in her receiving this investment. I am excited to witness Jomon’s growth through the mentorship, guidance, and expertise that will be provided by our strategic private co-investors,” she added.

Also commenting was Mr Al Amin who said: “My participation in Beban season 2 comes after being part of the show’s first season and benefiting from the ease of access to promising local opportunities in various sectors, especially F&B, in which I specialise. I am pleased to be investing alongside Hope Ventures in Jomon for Food, and I look forward to contributing with my experience in the sector to empower the business to expand internationally.”

Thrilled to be on Beban, Ms Saleh said the show acquainted her with “remarkable local opportunities that I did not have access to previously”.

“As a chef and owner of restaurants all over the globe, I take pride in homegrown businesses in the F&B sector, which is why I am excited to be co-investing in Jomon, and I have great faith in their potential to put Bahrain on the map,” she added.

Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

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