With commitments from the likes of Mubadala Capital, Saudi Venture Capital and Jada, ABV will look to startups working in healthtech, edtech, fintech, enterprise-tech and SaaS.
Regional early-stage venture capital fund, Access Bridge Ventures (ABV), has officially and closed a debut fund of $25 million. Led by Issa Aghabi and Rakan AlRashed, the UAE-based ABV will target high-growth tech startups in healthtech, edtech, fintech, enterprise-tech and Software as a Service (SaaS) across MENA, but with an initial focus on Saudi Arabia, UAE and Egypt, as well as Pakistan.
Gaining commitments from the likes of Mubadala Capital, Saudi Venture Capital, Jada and a host of prominent family offices, Aghabi and AlRashed, couldn’t be better positioned to achieve ABV’s targets.
Aghabi previously headed venture capital activities at the International Finance Corporation in MENA and Pakistan, while AlRashed was a key figure at a leading Saudi investment firm that focused on startups and SMEs. The duo can also boast middle-market private equity firm, CedarBridge Capital Partners, as a co-founder, a collaboration that falls under the firm's mandate of partnering with promising founders, helping them expand their investment remit and achieve growth.
For the co-founders, now is the time to launch a fund of its kind, as the regional ecosystem continues to evolve.
“The MENA landscape has transformed over the past few years, with entrepreneurs and startups acting as a catalyst for economic growth and development,” Aghabi (pictured in main image) said. “ABV has the unique ability to identify and cultivate this new breed of tech companies, many of which are extraordinary in their own right, and help them realise their full potential. Securing our first close reflects the confidence in ABV’s capabilities and investment strategy, where we lead the round and support our founders throughout their journey, as early as a first institutional investor.”
Learn more about ABV on its official website.
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