A new venture capital fund to finance tech start-ups in the Gulf and MENA region has announced its first financial closure with investments from companies such as Mubadala Capital, the Abu Dhabi Sovereign Fund’s Financial Investment Arm, Saudi Venture Capital Company (SVC) and other major family offices.
The newly founded regionally-focused fund, Access Bridge Ventures (ABV), based in Abu Dhabi, will aim for a final investment of over $25 million and will also finance start-ups in Egypt and Pakistan.
Investors will gain access to some of the region’s most transformational, home-grown tech companies as part of the funding.
ABV has announced that it will fund high-growth technology start-ups in Saudi Arabia, the UAE, Egypt, Pakistan and the MENA region in general.
Working with start-ups in the initial stages of development, ABV added that it will facilitate regional and global leaders across a variety of industries, including health-tech, edu-tech, fin-tech, enterprise-tech and service apps.
