Continuation Funds & Co-Investments: The New Playbook for MENA GPs
As MENA's early VC funds reach end of life, GPs are turning to continuation vehicles to hold winners longer, and to co-investment SPVs to concentrate LP capital into breakout companies. With over twenty regional funds hitting maturity in the next four years and regional regulators actively reforming their private funds framework, the playbook is being written in real time. Zest provides the digital execution rails, including SPV infrastructure, onboarding, and escrow solutions that power this evolution.
Discussion questions:
When does a continuation fund make more sense than a traditional extension, early exits or secondary sales?
How do co-investment SPVs fit alongside a main fund strategy, and what governance issues do GPs overlook?
What are the most common operational bottlenecks - LP onboarding, cost, payment flows - and how should funds be building for this from day one?
How is the regulatory environment in ADGM, DIFC (and the wider region) evolving to support these structures?
What does a realistic continuation vehicle deal look like (size, structure, LP base) in the region and who is actually doing these today?