Madinah Angels: A Muslim-first network of VC angels in the AI age

In the bustling VC world, where tech giants and institutional funds dominate, Madinah Angels is a purpose-driven player with a specific mission: bridging the funding gap for Muslims technopreneurs.

Launched on the 1^st September 2025, the syndicate of global Muslim angel investors is committed to backing entrepreneurs who share its values and vision for innovation in the AI era.

At the heart of this initiative is Abdul Haseeb Basit, a co-founder and principal at UK-based financial advisory firm Elipses, who sees an urgent need to "market make" for a community that has long been sidelined in the global tech landscape.

"The statistics speak for themselves: Minority founders receive less than 2% of VC funding in many Western nations," Abdul Haseeb shared with IFN Investor. Madinah Angels aims to change that by connecting high-net-worth Muslim individuals, accredited investors and family offices with promising start-ups.

The network of angel investors is betting big on technology, especially AI, viewing it as a transformative force akin to the advent of the internet or the smartphone.

Abdul Haseeb argues that while large tech players will undoubtedly dominate the space, there is a crucial opportunity for "more mindful development of AI which is more sensitive to faith and culture".

This doesn't mean every investment must be in a faith-based product. Instead, Madinah Angels’ focus is on enabling Muslim entrepreneurs to compete and participate in this new technology boom.

Madinah Angels is designed to offer more than just capital – it also emphasizes on community and mentorship Its network of angels, many of whom are successful entrepreneurs and industry veterans, act as "door openers and advisers" for the companies they back – an intangible benefit of domain expertise and connections being significant advantages over conventional VC firms.

The syndicate currently boasts 40 angels, with plans to grow to over 100. The growth is fueled by a referral-only network, ensuring new members are brought in by existing angels who vouch for their experience and connections.

The democratized approach fosters an equitable environment that allows investors to diversify their portfolio across multiple ventures, rather than risking a large sum on a single company.

Madinah Angels made its debut with an investment in REG-1, an AI-powered regtech ecosystem that uses intelligent automation and predictive analytics to transform governance, legal, risk and compliance. Looking ahead, Abdul Haseeb has an even bigger vision. He sees the angel syndicate as the first step towards a formal VC fund. While the syndicate will continue to serve the pre-seed and seed stages, a later-stage VC fund would be needed for follow-on Series A and Series B rounds.

The ultimate goal, Abdul Haseeb says, is to foster a more robust and interconnected global ecosystem for Muslim-led tech start-ups, collaborating with accelerators, incubators and other formal VCs to ensure a continuum of support and capital.