A UAE-headquartered leading venture capital firm, Iliad Partners has announced the launch of its $50 million Iliad Partners Tech Ventures Fund I. The firm will be located in the Abu Dhabi Global Market (ADGM) and aims to spearhead innovation and entrepreneurship throughout the Middle East and North Africa (MENA). Jada Fund of Funds-the primary backer of start-ups and venture capital in Saudi Arabia-supports the fund on behalf of the Saudi Arabian Public Investment Fund. The fund primarily focuses on early-stage B2B software start-ups, specializing in those operating within the UAE and Saudi Arabia. It focuses on the Pre-Series A and Series A stage companies and provides critical financing support combined with strategic mentoring to take businesses to scale. Key sectors of interest here include fintech, logistics, and proptech, which are driving digitization efforts in the region.
PC: FinSMEs
The Iliad Partners Tech Ventures Fund I, set aside about 10% of its capital to be invested in European start-ups, particularly in Greece, aside from its primary focus on the GCC region. This initiative aims to help European businesses penetrate the MENA market. The bridging of these regions would open avenues for cross-border collaboration and innovation, enabling start-ups to tap into new opportunities and markets.
Christos Mastoras, Founder and Managing Partner of Iliad Partners, expressed optimism about the prospects of the region. He said, “The region is now in its most rapid moment of transformation and growth thanks to technology and innovation. This makes it a global hub for entrepreneurship, and we’re excited about partnering with founders to build together great companies and the next generation of MENA success stories.”
The fund has attracted strong backing from high-profile investors, such as the Olayan Family, Masarrah Investment Company, MLM Investments, and the Constantakopoulos Family of Greece. Major family groups and offices from the GCC and Europe have also contributed to the fund, reflecting strong confidence in its vision and strategy.
Focusing on early-stage ventures, Iliad Partners seeks to support such start-ups that are pioneering technological change in the region. It looks to furnish these companies with the capabilities to scale up quickly, becoming market leaders in their areas of operation.
A prime candidate for this is the present trend of the MENA region, which is really seeing a surge in both entrepreneurship and innovation. Growing recognition of the role tech and start-ups can play in diversifying economies to produce sustainable growth has had both governments and private investors shift priorities toward investments in them. Iliad Partners, therefore, is getting very strategically positioned in shaping future directions of the region’s tech landscape by fostering early-stage business vibrancy through its initiatives.
The launch of the Iliad Partners Tech Ventures Fund I reflects the increasing role that venture capital plays in enabling the MENA region to transform into a global hub for innovation and entrepreneurship. The fund, with its strategic focus and strong investor backing, is well-equipped to identify and nurture the next generation of success stories in the region.
