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Beltone Holding, a rapidly growing financial institution, has revealed that its subsidiary, Beltone Venture Capital (BVC), has forged a collaboration with CI Venture Capital, part of Citadel International Holdings. This strategic alliance, headquartered in Abu Dhabi, aims to manage a $30 million fund dedicated to backing promising early-stage startups.
Investment Initiatives Begin
In recent months, the fund has initiated its investment activities, sealing deals with leading startups spanning diverse sectors and countries across the region. Notable investments include ventures like Bosta, Trella, Qlub, and ariika.
Enthusiasm from Partners
Fady Dahlan, Managing Partner at CI Venture Capital, expressed excitement about the partnership, stating, “We’re thrilled to join forces with Beltone Venture Capital to foster the growth of high-potential tech companies. Our combined investment efforts will enrich the early-stage innovation landscape in the MENA region.”
Fund Strategy and Vision
Ali Mokhtar, CEO of Beltone Venture Capital, elaborated on the fund’s strategy, highlighting its alignment with BVC’s established approach since its inception in 2023. He emphasized their commitment to partnering with founders and serving as value investors, supporting startups in scaling and realizing their potential.
Expanding Regional Footprint
Mokhtar further emphasized the fund’s focus on broadening its regional presence, with a keen eye on sectors exhibiting high margins and anticipated exponential growth driven by technology. The fund primarily targets pre-seed and seed investment rounds while remaining open to compelling opportunities across various funding levels.
Source: DailywestEgypt