Egypt-based VC fund Beltone Venture Capital (BVC), a subsidiary of Beltone Holding, has partnered with CI Venture Capital, a subsidiary of UAE’s investment group Citadel International Holdings, to manage a US$30 million fund to back fast-growing pre-seed and seed stage startups.
The US$30 million BVC and CI Venture Capital fund has already started deploying in the last couple of months, finalising transactions with startups from different countries and sectors in the MENA region, such as Bosta, Trella, Qlub, and ariika.
The fund invests in pre-seed and seed funding rounds of MENA innovative tech startups, as well as continue to support the best-performing portfolio companies.
“We are proud and excited to partner with Beltone Venture Capital to support the growth of high-potential technology companies. Our investment will contribute to the development of the early-stage innovation ecosystem in the MENA region,” said Fady Dahlan, managing partner of CI Venture Capital.
Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent’s most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.
Comments are closed.
Sign up for our Newsletter
Thank you for signing up!
Type above and press Enter to search. Press Esc to cancel.
About The Author
More Stories
New ITU Report Finds Community Networks Are Key to Reaching the Unconnected
Digital Coercion: How Inaccessible Design Strips Financial Privacy
The Need to Reimagine the WSIS Forum