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COTU Ventures launches $54M fund for pre-seed and seed startups in MENA
TechCrunch
·
1y ago
Medial
Dubai-based COTU Ventures has raised $54 million for its inaugural fund, which will support startups in the Middle East. The firm focuses on early-stage investments, investing between $500,000 and $1.5 million as an initial check. While COTU Ventures is inclined toward fintech and B2B software, it is open to opportunities across other sectors. The firm has already backed over 20 early-stage startups, including Huspy, a UAE mortgage platform, and Egyptian fintech startup MoneyHash. COTU Ventures aims to provide comprehensive support to its portfolio companies, offering strategic guidance and facilitating introductions to key stakeholders.
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MENA Digest: Saudi firm CoreVision buys VeFund; MoneyHash, Hayi get funding
VCCircle
·
1y ago
Medial
Saudi firm CoreVision made headlines in the MENA region as it acquired startup investment facilitator VeFund. Fintech platform MoneyHash secured $4.5 million in seed funding, while UAE-based social platform Hayi raised an undisclosed amount of funding. Other startups that received funding include travel tech platform The Digital Hotelier, AI tech company Camb AI, proptech platform Rize, and cloud kitchen startup The Cloud. Additionally, Dubai-based COTU Ventures closed its debut investment vehicle, raising $54 million to support startups in the region. Overall, it was an active week in terms of funding and investments in the MENA tech ecosystem.
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Dubai VC firm COTU Ventures hits final close of debut fund
VCCircle
·
1y ago
Medial
Dubai-based venture capital firm COTU Ventures has successfully closed its debut fund, raising $54 million to support early-stage startups in the Middle East and North Africa region. The fund, with limited partners including the Dubai Future District Fund and Mubadala, plans to invest in startups in the UAE, Saudi Arabia, and Egypt. COTU is a sector-agnostic fund, aiming to provide initial cheques ranging from $500,000 to $1.5 million. The firm has already invested in over 20 startups, including MoneyHash, Huspy, Supy, Mayple, LiveBazaar, AdalFi, Sirdab, and Kingpin.
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Dubai VC firm COTU Ventures hits final close of debut fund
VCCircle
·
1y ago
Medial
Dubai-based venture capital firm COTU Ventures has announced the final closing of its debut investment fund, raising $54 million to support startups in the Middle East and North Africa region. The firm, which aims to invest between $500,000 and $1.5 million as an initial investment, plans to focus on the UAE, Saudi Arabia, and Egypt. COTU has already invested in over 20 startups in the region, including fintech firm MoneyHash and online mortgage platform Huspy. Limited partners for the fund include the Dubai Future District Fund, Lunate, Mubadala, and Arab Bank.
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8i Ventures launches $10 Mn seed program 'Origami'
Entrackr
·
1y ago
Medial
Venture capital fund 8i Ventures today announced the launch of ‘Origami’, a seed funding program aimed at supporting early stage founders. Through this seed program, 8i Ventures targets those businesses in the pre-seed to early revenue stage, prioritizing ‘speed’ as its hallmark feature. As per the fund, the new program will ensure a streamlined process with a response within one week, a term sheet in two weeks, and deal closure in just four weeks, facilitating fundraise for founders without delays or distractions. Founded in 2019 by Vikram Chachra & Vishwanath V, the company is committed to nurturing the next generation of business leaders. By investing between $250K to $2 million in pre-seed to early revenue phase startups, 8i Ventures seeks to accelerate startup growth across industries. 8i Ventures is an early backer of companies such as Slice, M2P, Easebuzz, Transbnk, BharatX and Blue Tokai, among others. Vikram Chachra said the the firm aims to invest in 8-10 startups this year, and if this initiative is well-received, it may double its allocation to $20 million. During the funding winter (November 2022), 8i Ventures announced the first close of its $50 million second fund by raising $25 million. The firm has alloted $10 million from Fund II, to launch this initiative.
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MENA Digest: WheeKeep, Airwater, Lune raise funding; Beco Capital gets an exit
VCCircle
·
1y ago
Medial
During the week, several UAE and Saudi Arabia-based tech startups raised funding. Saudi logistics startup WheeKeep secured $8 million in Series A funding, UAE-based data analytics startup Lune raised $1.5 million in a seed round, proptech portal Property Finder raised $90 million in debt financing, electronics marketplace Revent secured $900,000 in pre-seed funding, and air-to-water technology company Airwater raised funding from Tau Capital. Additionally, investment firm Golden Gate Ventures launched a $100 million MENA fund, and Egypt-based firm Glint closed the first round of its $3 million venture fund.
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8i Ventures launches seed funding initiative 'Origami' to back early-stage startups
Economic Times
·
1y ago
Medial
8i Ventures has launched Origami, a seed funding initiative targeted at early-stage entrepreneurs. The firm will provide investments in the range of $250,000 to $2 million for startups in the pre-seed to early revenue phases. The program, backed by $10 million from 8i Ventures' second fund, aims to support eight to ten startups this year. The firm has previously invested in fintech, consumer, and software sectors but is now open to investing in any sector to find innovative teams with clear insights.
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Singapore VC firm Golden Gate Ventures rolls out $100-mn MENA fund
VCCircle
·
1y ago
Medial
Singapore-based venture capital firm, Golden Gate Ventures, has introduced a $100 million investment fund aimed at the Middle East and North Africa (MENA) region. The firm, which already manages assets worth $250 million across three continents, has secured $20 million in commitments for the MENA fund. The new fund will focus on supporting early-stage startups in the rapidly growing MENA market.
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MENA Digest: Bahrain’s Sellou, Moroccan startup PayTic, others secure funding
VCCircle
·
3m ago
Medial
Early-stage startups in the Middle East and North Africa (MENA) region led fundraising activities recently. Notable companies include Moroccan fintech PayTic, securing $4 million for expansion in Africa, and Bahrain-based social commerce platform Sellou, raising seed funding for regional growth. Saudi AI startup STUCK? and UAE proptech Rentify also secured pre-seed investments. Additionally, Saudi B2B marketplace Sary merged with Bangladesh's ShopUp, forming SILQ Group and raising $110 million led by Sanabil Investments and Valar Ventures.
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Oman investor comes onboard for Singapore VC Golden Gate Ventures’ debut MENA fund
VCCircle
·
5m ago
Medial
Golden Gate Ventures, a Singapore-based venture capital firm, has expanded to the Middle East and North Africa (MENA) region with a new $100-million fund. Oman’s sovereign investor has joined as a limited partner. The fund, headquartered in Doha, marks Golden Gate Ventures' first international VC initiative aimed at supporting early-stage startups in the MENA region. The collaboration underscores the growing investment interest in the vibrant MENA startup ecosystem.
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Golden Gate Ventures expands global reach: Launches MENA office in Saudi Arabia
Startup News FYI
·
1y ago
Medial
Golden Gate Ventures, a prominent venture capital fund, is expanding its global reach by launching its inaugural Middle East and North Africa (MENA) office in Saudi Arabia. This move aims to strengthen connections between Singapore and the MENA region and accelerate the growth of the startup ecosystem in MENA. Golden Gate Ventures has already been actively engaged in the region, collaborating with startup ecosystem partners across the Gulf Cooperation Council (GCC). The firm is providing mentorship to over 50 founders from MENA, helping them navigate the global startup landscape.
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