Dubai's COTU Ventures launches $54M fund for MENA startups
The sector-agnostic fund focuses on identifying and supporting founders from the inception of their idea to post-product launch, typically investing between $500K and $1.5 million.
Dubai-based early stage venture capital firm has raised $54 million to invest in pre-seed and seed stage startups in the MENA region.
Lunate, Mubadala, Dubai Future District Fund, Arab Bank, Bupa KSA and GPs from VCs Foundry Group, Tribe Capital, Stride, and family offices are the partners in the new fund.
The sector-agnostic fund focuses on identifying and supporting founders from the inception of their idea to post-product launch, typically investing between $500K and $1.5 million.
To date, the VC firm has invested in more than 20 early-stage startups, including Huspy, Supy, MoneyHash, and Sirdab, across the GCC over the past two and a half years. These startups are primarily based in the UAE, Saudi Arabia, Egypt and Pakistan.
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"I've been a part of the regional ecosystem since 2008, and it's come a long way since then. Saudi Arabia is leveraging its international expansion and government policies to boost its local technology sectors, attracting a growing tech-savvy population with substantial spending power," said Amir Farha, Founder and GP of COTU Ventures.
"When you combine all of this with remarkably low customer acquisition costs and some of the highest revenues per user, there has never been a better and more profitable time to invest in the region than today," he added.
COTU Ventures, a Dubai-based seed-stage venture capital firm founded in 2021, partners with founders from pre-seed to Series A to accelerate their companies' path to product-market fit and provide them with the right capital and expertise.
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Edited by Swetha Kannan