Binance alum Omar Rahim launches pre-seed crypto fund
Omar Rahim, the former MENA director of Binance, has assembled a new fund aimed at investing in pre-seed and seed-stage companies in the crypto space.
In a Linkedin post, Rahim said that his new venture, Matcha Capital, will use the funds to support a greater footprint in the crypto space. It is projected to finance companies whose founders specialize in crypto, fintech, and blockchain sectors.
“Matcha is a crypto fund that will focus on pre-seed deals across the space. I’m looking forward to working with some of the most exciting companies in the crypto industry! Currently looking for talented individuals to join the MC team, as well as for our portfolio companies,” he added.
After 15 years in the European tech startup scene, Omar Rahim joined Binance in June 2020 as the exchange was expanding to the Middle East and North Africa (MENA) to fill a gap in the region’s digital assets market by facilitating access to its services and infrastructure.
Binance said the MENA venture focuses on creating partnerships with local, compliant players in the region’s digital asset and Blockchain sectors.
For this purpose, Binance named Omar Rahim as Director of MENA to lead its corporate strategy and future business. He was tasked with ensuring compliance with different regulatory frameworks in countries throughout the region.
Binance’s MENA expansion heats up
Omar has a 16-year experience in trading oil and equity derivatives products across US and UK markets. Before joining Binance, he co-founded a startup called EnergiMine which was developing energy management solutions based on AI and blockchain technology. His career encompasses various trading roles in the UK and Germany, including at Refco Trading Services Limited, SSE Airtricity and Vattenfall.
Omar parted ways with the influential crypto exchange last year, ending a less than two-year tenure.
Also in October, Binance appointed a former DFSA executive as its chief regulatory liaison, part of an attempt by the world’s largest crypto exchange to undo regulatory red flags and reinvent itself as a regulated financial firm.
Mark McGinness, former head of international relations at the Dubai Financial Services Authority (DFSA), joined Binance in the newly-created role after 16 years with the UAE prominent watchdog. He brings over three decades of experience as a financial services supervisor.
During his long stint at the DFSA, McGinness played key roles to establish international links and recognition for the financial center, drafting and negotiating MoUs and FinTech agreements. He was instrumental in creating a global network of over 85 regulators and settled 100 Memoranda of Understanding for the DFSA, per his linkedin profile.