Agility Global supports early-stage regional businesses through new VC fund

Abu Dhabi – Mubasher: Global Ventures, a venture capital (VC) arm of multi-business operator and long-term investor Agility Global, will invest in a new fund focused on providing capital to early-stage companies across the Middle East and Africa.

The new fund which is managed by the Dubai-based Global Ventures will target promising startups and entrepreneurs in the region, according to a press release.

Chairman of Agility Global, Tarek Sultan, said: “We are passionate champions and advocates for businesses led by the region’s new generation of entrepreneurs and innovators….The Middle East and Africa are brimming with innovation and entrepreneurial energy.”

Sultan noted: “Through our venture capital arm, Agility Ventures, and our investment in Global Ventures’ new MEA fund, we are encouraging the region’s startups and entrepreneurs to commercialize and scale great ideas and innovations.”

The investment firm Global Ventures already has more than $300 million of assets under management (AUM).

The Chairman concluded: “We’re conscious that only about 15% of all VC 'cheque-writers' are women, and we’re excited to be backing a women-led fund in the region.”

Agility Global through its VC arm has built a portfolio of investments spreading across clean energy, digital logistics, e-commerce, healthcare, and agri-tech startups.

Founder and Managing Partner at Global Ventures, Noor Sweid, said: “Anticipating a shift towards resource efficiency in sectors such as supply chain, our new fund, Fund III, is strategically aligned with industries poised for technological transformation in emerging markets over the next decade.”

The first fund by Global Ventures was launched in 2018 with a focus on fintech, followed by a second fund in 2022 to focus on investments in health tech and digital health innovation.

Meanwhile, Agility Global will invest in Global Ventures’ third fund which was established earlier in 2024 to provide capital to startups innovating in supply chain technology, energy technology, and agri-tech.

It is worth noting that the ADX-listed regional company registered a net profit of $60.30 million and revenues worth $2.08 billion in the first half (H1) of 2024.

Mubasher Contribution Time: 06-Oct-2024 12:40 (GMT)
Mubasher Last Update Time: 06-Oct-2024 12:40 (GMT)