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.
