Mithaq Ventures
Digital infrastructure for the Islamic economy.
An operator-led venture studio building category-leading products across a $2 trillion market of 1.9 billion consumers.
The market
The global Islamic economy is a $2 trillion+ consumer marketSGIE 2023/24 serving 1.9 billion peoplePew 2015 — the fastest-growing major demographic on earth. Yet across identity, finance, food, travel, and family services, the digital products this audience uses every day are built for a different consumer. Mithaq Ventures exists to close that gap with a focused, operator-led portfolio.
A focused portfolio. Built for tenure, not exit.
Our position
Standalone today.
Integrated over time.
Each venture launches as an independent product in its own vertical — identity and security, inheritance, provision, travel, and the categories tracked by the State of the Global Islamic Economy report.SGIE 2023/24 The longer-term plan is to connect them into shared identity, payments, and distribution as the portfolio matures.
4
In build
9
On the roadmap
10%
Profit returned
The roadmap
Independent apps today. A connected stack tomorrow.
Each venture is shipping as a standalone product in its own category. The multi-year plan is to converge them — through shared identity, payments, and distribution — into a connected stack a Muslim family can rely on across commerce, travel, household, and identity.
Eight consumer categories on the roadmap, with a sovereign data and cloud foundation as the long-term horizon.
Five further categories — women's health, modest fashion, halal commerce & payments, zakat & sadaqah, and a sovereign data foundation — sit on the multi-year roadmap. See the full roadmap →
How we work
Ventures are admitted to the studio against four fixed gates: enduring consumer problem, structural underservice by incumbents, achievable quality bar, and a ten-year operating commitment.
Engineering on deliberate-execution timelines. Shared identity, payments, and design system across the portfolio. Technical debt is budgeted, not deferred.
Each venture is operated on a multi-year horizon. No flips, no hand-offs — performance is measured by tenure in market, not exit timing.
Operating model
An operator, not an accelerator.
Most institutions serving the Muslim market deploy capital into third-party founders, run cohorts, and host demo days. Mithaq Ventures does not. The studio conceives, builds, and operates its own ventures — and retains them.
Conventional model
Mithaq Ventures
Fund founders
Build and own products
Capital is allocated to ventures the studio operates directly, not to a portfolio held for exit.
Run cohorts
Run companies
No batches, no demo days. Live products with paying users in market.
Build a community
Build infrastructure
Programming and convening are downstream of shipped product. The product is the deliverable.
Optimise for exit
Optimise for tenure
Each venture carries a multi-year operating commitment; the studio is not in the business of company sales.
Portfolio
Four ventures across four high-growth verticals.
Each venture targets a category tracked by the State of the Global Islamic Economy reportSGIE 2023/24 and ships today as an independent product in its vertical.
The operator
Zeshan Ahmad — founder, sole operator.
Two decades inside the rooms where large software gets built and broken — at aircraft makers, universities, insurers, and government departments. Mithaq Ventures is the argument that followed: build fewer things, with greater care, for the people the industry has overlooked.
Governance
Public commitments. Auditable conduct.
Four standing commitments — published, dated, and held against an independent advisory circle.
Excluded sectors
Interest-based finance, gambling, surveillance advertising.
Returns to community
10% of profit, every year.
Reviewed by
An independent advisory circle.
On user data
Not sold. Not shared. Yours.
Capital
Raising a $2.5M seed to ship the first four ventures.
Capital is allocated against a multi-year operating plan, not a flip schedule. Targeting $1.5M+ ARR across the live ventures by the Series A trigger, with 10% of annual profit committed to community return.
$2.5M
Seed round
$1.5M+
Target ARR · Series A trigger
10%
Profit returned to community, annually
Built for tenure.
Measured by outcomes.