The fund is aimed at supporting the growth of burgeoning startups across the MENA region, including Bosta, Trella and ariika.
Egypt’s Beltone Venture Capital (BVC), a subsidiary of Beltone Holding, has forged a partnership with CI Venture Capital, a subsidiary of UAE’s Citadel International Holdings, to administer a $30 million fund aimed at supporting the growth of burgeoning startups across the MENA region.
The fund will primarily target pre-seed and seed funding rounds, with a focus on innovative tech startups, while also providing continued support to high-performing portfolio companies.
“The Fund is a continuation of the same strategy Beltone Venture Capital has been executing since its inception in 2023,” Ali Mokhtar, CEO of Beltone Venture Capital, tells StartupScene. “This is aligned with our fundamental principle of acting as founders’ partners and value investors, supporting startups’ scaling up and reaching their full potential. We are aiming to expand our regional presence with a focus on high-margin sectors that offer foreseen exponential growth where technology can play a substantial role.”
With the fund already in motion, BVC and CI Venture Capital have swiftly begun deploying capital over the past few months, cementing deals with several promising startups. Notable among these are Bosta, Trella, Qlub, and ariika, indicating a diverse investment strategy that spans different sectors and geographies within the MENA startup landscape.
