Startup Funding: Aboudi Al-Qattan, Principal, DASH Ventures Practical advice from Aboudi Al-Qattan, Principal, DASH Ventures, on how to differentiate your startup, attract investors, and grow strategically.

This article is part of Startup Funding - Investor Insights Every Entrepreneur Needs by Entrepreneur Middle East, a series where the MENA region's leading venture capitalists share practical advice to help founders navigate the challenges of building and scaling a startup.

Actionable insights from Aboudi Al-Qattan, Principal, DASH Ventures, on building standout startups, raising funds, and scaling smart in today's competitive market.

What are the top 3 things founders should absolutely do when preparing to raise their first round?
Understand whether or not you are building a business that actually requires venture funding.Everyone's raising money these days, but not every business should. Before jumping into the process, founders need to ask: Do we really need venture capital? Is this a business that requires significant upfront investment to scale rapidly? Or is it something that can be bootstrapped, financed through revenue, or built with venture debt? Once you've answered that, the second part is knowing your story: Why you? Why now? And why is this a big enough opportunity to warrant venture funding? Pre-Seed and Seed stage investors are investing in people above all else; make sure your why is clear and your story stands out.

Benchmark intelligently, then raise to reach clear milestones. Once you've decided to go the VC route, don't just raise arbitrarily. Look at comparable businesses in your sector and your stage. What kind of traction or KPIs did they have when they raised their seed? If you're in FinTech, for example, what were the annual recurring revenue (ARR) levels, customer counts, or engagement metrics at each round? Use those benchmarks to model out what you need to get there, and raise the capital required to hit those targets, whether that's team, tech, go-to-market, or regulatory. Founders have to demonstrate an understanding of how to use funds to scale efficiently. Raising funds should always be driven by a desire to reach specific targets. Once those targets are achieved, you either raise further funds or, in some cases, you've achieved profitability and can invest from your own balance sheet.

Cast a wide net, but stay intentional. You should speak to as many investors as possible, not just to land a cheque, but to gather feedback, sharpen your pitch, and pressure test your model. But that doesn't mean taking just any money. Founders should always prioritize alignment: who's adding strategic value, who understands your market, and who you'd actually want on your cap table long-term. Every round is a step toward the next. Choose the right partners early.

What are you really looking for when evaluating early-stage startups?
We keep it simple. There are two non-negotiables:

Founder–market fit. We're drawn to founders who deeply understand the problem they're solving, not just because they read about it or spotted a trend, but because they've lived it. That might come from years working in the space, a personal or generational pain point, or a clear obsession that's been building for years. Whatever the source, we look for conviction rooted in context, founders who truly grasp the nuances of their market and can navigate it with intuition and intent.

Massive, tangible market upside. Once a founder proves they're the right person for the problem, the next question is: Is this a venture-scale opportunity? We need to believe that, given our entry point and the founder's ambition, there's a credible path to outsized returns. Not theoretical TAMs (total addressable market) , but real, tangible market potential.

Can you share a personal anecdote—either a pitch that truly impressed you, or one that missed the mark and why?
It's tough to pinpoint one specific pitch, especially since we've invested in some incredible new companies in recent years, like PostEx, Omniful, Wellx, and Zest Equity. For me, there are a few non-negotiables that separate the best pitches:

Founders need to do homework on the VC's they are speaking to. Why are you interested in fundraising from us specifically? Are there companies in our portfolio with whom you can collaborate? Is there a specific partner that you align deeply with? I'm always impressed when founders go the extra mile to demonstrate a genuine interest in building a partnership that far supersedes financial investment.

I also believe all founders should know their numbers. That does not mean every founder needs to think like a CFO. But anybody at the helm of a business should understand at least high-level performance metrics like revenue, gross profit, unit economics, and runway. Our first call with founders is rarely about performance and more about understanding the story/vision behind the business, but if I ask a founder for specific numbers and they aren't sure, I wouldn't say it's a red flag, but I would say it leaves a "negative" impression in my mind.

There is a delicate balance between humility and confidence that we always look for. We are investing in you, so we don't expect/want you to agree with everything we say. We look for founders who can take criticism but also who have full conviction in the business they are building. There truly is a delicate balance here that is sometimes hard to find.

How should founders approach a "no"? What's the best way to build long-term investor relationships even if they don't get a cheque right away?
First, not every "no" is final, it's often just a "not now." If you've had a respectful and constructive conversation, and you believe the investor could add value down the line, don't take it personally. Instead, keep the door open.

The best way to do that is through regular, thoughtful updates. Quarterly is a great cadence. Share high-level performance, major product or hiring milestones, and a short note on what's keeping you up at night. It shows maturity, builds trust, and helps investors see how you execute.

But more importantly, be intentional. Don't add people to your update list just to tick a box. Think about why this investor might be the right partner in the future. Make that clear when you stay in touch. Strategic alignment beats mass outreach every time.

What startup sector or trend are you most excited about right now—and why?
It's less about a "hot" trend for us and more about a consistent thesis we've leaned into over the past five years: business-to-business (B2B) infrastructure across emerging markets.

In the post-COVID investment wave, a lot of capital went into businesses that, frankly, weren't built to last. But there were also incredibly strong companies that used that capital well, adapted, and built durable, profitable models. And what many of them had in common was that they were business-to-business (B2B) at their core.

In emerging markets, where traditional institutions often fall short, we see huge value in startups that enable other businesses to operate more efficiently, whether that's through lending, insurance, payments, hiring, or operational tools. These companies are stepping in where banks, consultants, and legacy providers don't show up. That's where we've found the most opportunity.

To be clear, we're not anti–consumer. Some of our best performers are direct-to-consumer (D2C). But coming out of 2020–2021, we took a step back, paused new investments for 18 months, and focused on backing our existing portfolio. When we returned to deploying capital in new startups, we doubled down on businesses that make the backbone of the economy more efficient. That lens still guides our strategy today.

Related: VC Voices: Noor Sweid, Author and Founder and Managing Partner at Global Ventures