Tenmou, the Angel Investment Group in Bahrain
by Daniel J. Isenberg,
Tenmou, the Angel Investment Group in Bahrain ^ BAB173
#BAB173
Daniel J. Isenberg
Innovation,Entrepreneurship
Source: Babson College
In October 2013, Hasan Haider (28), CEO and co-founder of the Tenmou Angel Group in Bahrain, had doubled Tenmou's investment funds from Bahrain Dinar (BD) 1 million to BD2 million (to approximately $5.4 million). Since its founding in 2010, Tenmou had invested half of its capital-about .5 million BD-in 17 Bahraini startups. As of the time of the case, Haider and co-founder and Tenmou chairman Sami Jalal were anticipating the need for more capital in 2014. Haider was realizing that to have any long-term effect on Bahrain's entrepreneurship ecosystem and to position Bahrain as a magnet for the MENA's very best entrepreneurs, much more money would be needed. Haider was contemplating opening up a parallel effort to organize a $100 million fund, which would be the largest in the MENA region by far. He had given himself until the end of 2013 to decide. Notably, as currently structured, he would not receive any of the profits if Tenmou portfolio companies exited. The Tenmou case bridges two areas related to entrepreneurship. One is economic development policy. How can private investment initiatives be optimized for economic development goals, particularly in emerging economies? The second is entrepreneurial finance, in particular, programs and policies that encourage or discourage the flow of funds to entrepreneurial ventures. Thus, the Tenmou case may be used in graduate and undergraduate courses in public policy, entrepreneurial finance, economic development, social innovation, and the like. It may also be used in leadership training programs, such as the Harvard Kennedy School program, Innovation for Economic Development, MIT's Regional Entrepreneurship Acceleration Program, or Babson's new program in "Driving Economic Growth through Entrepreneurship Ecosystems." The case can also be used in regional interventions in order to stimulate discussion about the role of family business in fostering entrepreneurship, as well as the limitations of government engagement.
Product #: BAB173
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