- Phoenix Venture Partners successfully closed its $50M Innovation Fund to support MENA’s growing startup ecosystem.
- The fund will focus on high-growth sectors such as fintech, healthtech, sustainability, and edtech.
- Backed by global investors, the fund aligns with MENA’s economic transformation goals, driving innovation and entrepreneurship.
Phoenix Venture Partners (PVP) has successfully completed the second closing of its $50 million Phoenix Venture Partners Innovation Fund (PVPIF). This milestone marks a significant step in expanding support for early-stage startups in the Middle East and North Africa (MENA).
A Major Boost for MENA’s Startup Ecosystem
The new fund will drive investments across key sectors, including fintech, healthtech, edtech, and sustainability. Institutional investors, family offices, and high-net-worth individuals (HNWIs) from France, Luxembourg, Mauritius, Kuwait, and Saudi Arabia participated in the funding, signaling growing confidence in the region’s startup landscape.
Steve Khayat, Founder & CEO of Phoenix Venture Partners, emphasized the importance of this achievement. “We are thrilled to welcome a distinguished group of investors who recognize the potential of our strategy. Their commitment validates the strength of our portfolio and the groundbreaking innovations we are backing.”
Strategic Investment in High-Growth Sectors
With this additional capital, PVPIF is set to accelerate investments in:
- Fintech & Insurtech – Enhancing financial inclusion and digital banking.
- Healthtech – Advancing AI-driven diagnostics and telemedicine solutions.
- Edtech – Revolutionizing digital learning and skills development.
- Agri-Foodtech – Promoting innovation in food security and sustainable agriculture.
- Energy Tech & Sustainability – Investing in cleantech and renewable energy.
- E-Logistics & Mobility Tech – Optimizing smart transportation and supply chains.
- Consumer Tech – Supporting digital commerce and lifestyle innovations.
The fund remains focused on the MENA region while targeting high-growth opportunities in G20 economies.
Strengthening Investor Confidence & Market Impact
The completion of this funding round positions PVPIF to execute live deals and expand its portfolio. The Middle East’s venture capital landscape has experienced remarkable growth, driven by government initiatives such as the UAE’s National Innovation Strategy and Saudi Vision 2030. These programs prioritize technology-driven economic diversification, making MENA a prime destination for investment.
PVP aims to foster innovation, empower entrepreneurs, and create high-impact startups that deliver long-term value for investors and the regional economy.
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Last Updated on March 14, 2025 by Safiya K
