Key Takeaways
- • Oman's Phaze Ventures launched two AI-focused funds targeting more than $75 million combined, with over $40 million already committed to Oman and international AI startups; Fund II is backed by ITHCA, Ominvest and Oman LNG Development Foundation, and the Oman-focused vehicle by Future Fund Oman.
- • Egypt's Tanmiya Capital Ventures closed its second growth-equity fund at $130 million, above its $120 million target, with the European Investment Bank committing $37.5 million alongside IFC, EBRD and MSMEDA.
- • UAE-based BY Venture Partners closed its third fund at $60 million, lifting assets under management above $200 million, anchored by Dubai Future District Fund.
- • DPI Venture Capital closed the Nclude Fund at more than $112 million for technology companies across Africa and the Middle East, with Egypt as its core market.
- • Morocco's ABA Life signed a $40 million investment agreement with Admaius Capital Partners, subject to closing conditions and Moroccan Competition Council approval.
Summary
Startup and investment activity accelerated across the Middle East and Africa over the past seven days, with several funds reaching final close, founders securing new capital, and new platforms targeting healthcare, climate, finance, property and digital commerce, according to Arab News.
In fund activity, Oman's Phaze Ventures launched two investment funds targeting more than $75 million combined, with over $40 million already committed to backing artificial intelligence startups in Oman and internationally. Fund II is backed by ITHCA, Ominvest and Oman LNG Development Foundation, while the Oman-focused vehicle is supported by Future Fund Oman. Phaze has already disclosed five AI investments. UAE-based BY Venture Partners closed its third fund at $60 million, lifting assets under management above $200 million. Dubai Future District Fund anchored the vehicle alongside regional family offices and strategic investors. The fund will invest up to $1 million in AI-native startups from pre-seed to Series A, has already backed 15 companies, and is targeting a 40-company portfolio.
Egypt's Tanmiya Capital Ventures closed its second fund at $130 million, exceeding its $120 million target. The European Investment Bank committed $37.5 million, alongside IFC, EBRD, MSMEDA and other investors. The growth-equity fund expects to build a portfolio of six to eight established Egyptian companies across healthcare, training, fintech, consumer goods, logistics and transport. DPI Venture Capital closed the Nclude Fund at more than $112 million for technology companies across Africa and the Middle East, with Egypt its core market and 30 percent available elsewhere. The fund invests between $500,000 and $10 million from seed to Series C, and its 15 investments include Paymob, Nawy and Money Fellows.
Morocco-based ABA Life signed a $40 million investment agreement with Admaius Capital Partners, subject to closing conditions and approval from the Moroccan Competition Council. The company plans to scale its Mediot healthcare technology platform and clinical services internationally.
Smaller rounds included Madica, an Africa-focused investment programme, which secured an additional $6 million from Flourish Ventures to extend its pilot for three years; Rently, which secured a $12 million growth credit facility from January Capital to expand into Singapore, Hong Kong and the UAE; and Saudi proptech Ghanem, which raised a $1.5 million pre-seed extension, bringing the round to $8.6 million. NoorNation raised $1.05 million from Linah Farms, Catalyst Fund and KBW Ventures, and GreenShift graduates in Egypt secured a combined 57.5 million Egyptian pounds ($1.03 million).
Platform launches included FinBursa 360, an AI-native platform for private-market professionals founded in 2024 by former BlackRock director Ismail Badereldine, and YouTube Shopping's affiliate program, launched in Saudi Arabia, the UAE and Egypt with Amazon as its first regional partner. Ajman Chamber also introduced the Thara entrepreneurship ecosystem, and the Downtown Tech Summit returns to Doha on Nov. 17.
In fund activity, Oman's Phaze Ventures launched two investment funds targeting more than $75 million combined, with over $40 million already committed to backing artificial intelligence startups in Oman and internationally. Fund II is backed by ITHCA, Ominvest and Oman LNG Development Foundation, while the Oman-focused vehicle is supported by Future Fund Oman. Phaze has already disclosed five AI investments. UAE-based BY Venture Partners closed its third fund at $60 million, lifting assets under management above $200 million. Dubai Future District Fund anchored the vehicle alongside regional family offices and strategic investors. The fund will invest up to $1 million in AI-native startups from pre-seed to Series A, has already backed 15 companies, and is targeting a 40-company portfolio.
Egypt's Tanmiya Capital Ventures closed its second fund at $130 million, exceeding its $120 million target. The European Investment Bank committed $37.5 million, alongside IFC, EBRD, MSMEDA and other investors. The growth-equity fund expects to build a portfolio of six to eight established Egyptian companies across healthcare, training, fintech, consumer goods, logistics and transport. DPI Venture Capital closed the Nclude Fund at more than $112 million for technology companies across Africa and the Middle East, with Egypt its core market and 30 percent available elsewhere. The fund invests between $500,000 and $10 million from seed to Series C, and its 15 investments include Paymob, Nawy and Money Fellows.
Morocco-based ABA Life signed a $40 million investment agreement with Admaius Capital Partners, subject to closing conditions and approval from the Moroccan Competition Council. The company plans to scale its Mediot healthcare technology platform and clinical services internationally.
Smaller rounds included Madica, an Africa-focused investment programme, which secured an additional $6 million from Flourish Ventures to extend its pilot for three years; Rently, which secured a $12 million growth credit facility from January Capital to expand into Singapore, Hong Kong and the UAE; and Saudi proptech Ghanem, which raised a $1.5 million pre-seed extension, bringing the round to $8.6 million. NoorNation raised $1.05 million from Linah Farms, Catalyst Fund and KBW Ventures, and GreenShift graduates in Egypt secured a combined 57.5 million Egyptian pounds ($1.03 million).
Platform launches included FinBursa 360, an AI-native platform for private-market professionals founded in 2024 by former BlackRock director Ismail Badereldine, and YouTube Shopping's affiliate program, launched in Saudi Arabia, the UAE and Egypt with Amazon as its first regional partner. Ajman Chamber also introduced the Thara entrepreneurship ecosystem, and the Downtown Tech Summit returns to Doha on Nov. 17.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.