UAE – Mubasher: Abu Dhabi-based venture capital (VC) firm Iliad Partners launched its $50 million Iliad Partners Tech Ventures Fund I, according to a press release.
The Iliad Fund will invest in early-stage B2B software startups driving digitisation in target verticals, including fintech, logistics, and proptech in MENA, with a main focus on Saudi Arabia and the UAE.
Backed by PIF-owned Jada Fund of Funds, the Olayan Family, and Masarrah Investment Company, the new venture will allocate 10% of the fund to Europe to support startups expanding into MENA.
Christos Mastoras, Founder and Managing Partner of Iliad Partners, commented: “The region is currently undergoing unprecedented transformation and growth driven by technology and innovation, establishing it as a global hub of entrepreneurship.”
