The MENA Private Markets Playbook: Cap Tables, SPVs, and the Infrastructure Behind the Deal

Private markets in MENA are moving faster than ever—but the infrastructure holding deals together hasn't kept pace. Cap tables turn into labyrinths. SPV operations become blockers. Teams make costly mistakes on the operations that should be routine.

Join Peji Kanani from Carta and Rawan Baddour from Zest as they unpack what clean infrastructure looks like, where teams stumble, and what you need to lock in place for your next raise or co-investment.

What you'll take away:

What clean infrastructure looks like: The hallmarks of a well-run cap table in 2026 and where MENA patterns diverge from global norms.
Structure optionality: When an SPV wins over a fund vehicle or direct investment—and what that choice means for operations and cap tables over time.
Operations that scale: What it takes to stand up and run a vehicle end-to-end—and where most teams underestimate the lift.
Stress-testing your setup: The equity events that break legacy infrastructure and how to build for them from the start.
What this means for you: Faster execution, fewer surprises, better outcomes on the structures that matter most.

Featuring

Rawan Baddour
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Zest Equity
Peji Kanani
Regional Lead for Startups Middle East
Carta

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