Saudi Arabia's Emkan launches $31M fund for early-stage startups
The newly launched fund will invest in pre-seed and seed-stage companies in fintech, ecommerce, logistics, AI, cyber, health, and cloud.
Saudi Arabia's venture capital firm Emkan Capital has launched a $31 million fund called Emkan Capital Fund I for early-stage technology startups across GCC and the broader MENA region.
The newly launched fund will invest in pre-seed and seed-stage companies in ecommerce, cyber, fintech, logistics, artificial intelligence, health, and cloud, across MENA, as per the press release.
The fund is led by investors such as the Saudi sovereign wealth fund Jada Fund of Funds and foreign investors such as Ori Sasson.
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Emkan Capital’s team consists of investors and entrepreneurs who collectively bring nearly 50 years of experience in investing in businesses and working with founders across KSA, the UAE, the US, and Asia.
Some of the companies in their portfolio are FENIX, InvestSky, Hubpay, NovoGenomics, Trukkin, Mojo, and Awaed.
In January 2023, Emkan led the pre-seed round of $3.4 million for the social investing platform InvestSky.
Ghassan Aloshban, General Partner at Emkan Capital, commented that the fund will bridge the gap in knowledge and funding that founders face.
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Edited by Affirunisa Kankudti
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