We’ve had a few friends send over this excellent article from *Fast Company Middle East* on the rise of search funds in the region. The momentum is real, and the insights are spot-on. But just to clarify: while we have LPs from the Middle East, we haven’t yet invested in any regional search funds. Here’s why: 1. Our first vehicle focused almost entirely on Europe. At the time, Europe felt like the next frontier, offering: - Easier access to debt - Predictable legal frameworks - Active M&A markets - Lower downside risk 2. Our second vehicle is more diversified — with growing interest in Asia, Latin America, and Australia. This isn’t random: it’s part of a risk mitigation strategy. We want exposure to high-growth markets with solid fundamentals. To be clear — we’re not opposed to backing Middle East search funds. But right now, we see greater opportunity in raising capital in the region and deploying it in more mature ecosystems, while the local market continues to evolve. We’re watching the space closely — and we’re optimistic about what’s coming. redacted