Saudi Arabia-based VC agency Emkan Capital targeted on early-stage know-how start-ups throughout GCC and broader MENAP has introduced the shut of its inaugural $31 million fund, Emkan Capital Fund I (“ECP I”).The funding got here from establishments and companies the world over, notably attracting a 3rd of the capital from Silicon Valley-based companions.
Emkan’s fund, ECP I, will oversee strategic investments in pre-seed and seed-stage firms with high-growth potential in key know-how subsectors.
This can embrace enterprise fashions together with fintech, e-commerce, and logistics, in addition to spanning frontier sectors comparable to AI, cyber, cloud and well being tech throughout the MENA area. With the fund’s capital dedicated, the agency will proceed on its path of investing in resilient enterprise fashions and offering founders with entry to the worldwide advisory workforce’s mentorship in addition to vital entry to company companions and tier-1 traders.
Ghassan Aloshban, Basic Accomplice at Emkan Capital, mentioned: “We’re excited to launch such an essential fund, which can assist bridge the data and funding hole that’s stifling many founders’ ambitions and limiting progress alternatives. Significantly now, at a time when founders can discover themselves drowning in choices however ravenous for data, we wish to make our mark by supporting founders by way of mentorship and entry to transformational relationships. This area is residence to nice minds and great tales ready to be informed. We’re proud to have the ability to be there for founders earlier, fairly than later. We wish to present capital, however rather more than that we wish to provide steerage and assist to the native expertise on their journey to constructing nice companies.”
Turki Alshaikh, Co-founder of InvestSky, an Emkan portfolio firm, added: “The workforce at Emkan has been really instrumental in serving to us develop. Past their funding, Ghassan and the workforce went above and past to attach us with trade heavyweights and worldwide subject material specialists. To us, the shut assist and steerage we obtained made an enormous distinction and we had been notably impressed by their mixture of regional experience with a world perspective.”
Emkan Capital’s workforce consists of a workforce of seasoned traders and entrepreneurs collectively bringing almost 50 years of expertise in efficiently investing in companies and dealing with founders throughout KSA, UAE, the US, and Asia.