Dubai-based early-stage venture capital (VC) firm COTU Ventures has launched a $54 million inaugural fund to support startups in the Middle East.

The fund plans to back startups from inception to post-production launch with investments between $500,000 and $2 million, according to a press release.

COTU Ventures has actively deployed capital into startups across the GCC region for two and a half years, focusing primarily on the UAE, Saudi Arabia, Egypt, and Pakistan.

The VC firm injected investments in over 20 early-stage startups across various sectors, including Huspy, a UAE-based mortgage platform, and Egyptian fintech startup MoneyHash, which recently raised a $4.50 million Seed funding round.

Amir Farha, Founder of COTU, said: “The consumer wave happened with Careem and some other applications. Today, businesses are lagging a bit behind, so there’s a huge opportunity to build software to help solve many of their problems.”

“We are also interested in high-margin industries where technology can play a massive role and capitalise on margin efficiencies,” Farha added.

The founder also asserted that COTU Ventures aims to establish trust and strong connections with founders, enabling the firm to make more informed investment decisions.

COTU Ventures secured partnerships with Lunate, Mubadala, Dubai Future District Fund, Arab Bank, Bupa KSA, and GPs from VCs, including Foundry Group, Tribe Capital, Stride, and several family offices.

Sharif El Badawi, CEO of Dubai Future District Fund, commented: “Our confidence in Amir stems from his deep passion for supporting founders and his proven ability to find remarkable investment opportunities before anyone else.”

All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).