- Beltone Venture Capital (BVC) partners with CI Venture Capital to manage a $30 million fund for MENA startups.
- The Fund has already sealed deals with top startups like Bosta, Trella, Qlub, and ariika, showcasing its commitment to fostering innovation and entrepreneurship across diverse sectors in MENA.
- Fady Dahlan, Managing Partner of CI Venture Capital, highlights a shared vision with BVC in nurturing early-stage innovation.
Beltone Holding’s subsidiary, Beltone Venture Capital (BVC), has partnered with CI Venture Capital, a subsidiary of Citadel International Holdings. The aim of this collaboration is to manage a $30 million fund dedicated to supporting fast-growing startups.
Citadel International Holdings is a prominent investment management firm based in Abu Dhabi. The firm brings its expertise to the table. It backs high-potential technology companies.
The Fund has already begun deployment over the past few months and has finalized transactions with several top startups from diverse sectors across the MENA region. Notable startups include Bosta, Trella, Qlub, and ariika, showcasing the Fund’s commitment to supporting innovation and entrepreneurship in the region.
Fady Dahlan, the Managing Partner of CI Venture Capital, expressed pride and excitement in partnering with Beltone Venture Capital. He highlighted their shared vision of nurturing early-stage innovation in the MENA region through strategic investments in technology companies with significant growth potential.
This partnership represents a significant step towards fostering the growth of the startup ecosystem in the MENA region. By pooling resources and expertise, Beltone Venture Capital and CI Venture Capital aim to provide startups with the necessary capital and support to scale their operations and make a lasting impact on the regional economy.
Ali Mokhtar, the CEO of Beltone Venture Capital, emphasized that the newly launched fund aligns with the company’s long-standing strategy, which has been in place since its establishment in 2023.
The core principle guiding Beltone Venture Capital is to act as partners to founders, embodying the ethos of value investors. Their focus lies in supporting startups through their growth journey, aiding them in scaling up and realizing their full potential.
The strategic vision of the fund is to expand Beltone Venture Capital’s regional footprint, concentrating on sectors that promise high margins and exponential growth prospects, particularly those where technology can play a significant role in driving transformation.
Mokhtar highlighted that the fund will primarily target pre-seed and seed funding rounds, positioning itself as an early supporter of promising ventures. Furthermore, Beltone Venture Capital is committed to continuing its support for the top-performing portfolio companies, extending investment into subsequent funding rounds.
Additionally, the fund remains open to exploring compelling opportunities across various stages of funding, reflecting its flexible and adaptive investment approach.
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Last Updated on April 18, 2024 by Safiya K
