Iliad Partners Launches $50 Million Fund Backed by Saudi PIF
Deal News | Dec 11, 2024 | Zawya
Iliad Partners, a UAE-headquartered venture capital firm, has announced the launch of its $50 million Iliad Partners Tech Ventures Fund I. The fund is backed by Saudi Arabia's PIF Jada Fund of Funds and aims to support early-stage B2B software start-ups, primarily in the UAE and Saudi Arabia, particularly those in the Pre-Series A and Series A stages. The focus is on digitisation-driven sectors such as fintech, logistics, and proptech. Additionally, the fund aims to allocate 10% of its investments to European start-ups, especially those in Greece looking to expand into the MENA region. The firm hopes to contribute to the technological transformation and entrepreneurial growth in the region. Prominent backers include the Olayan Family, Masarrah Investment Company, MLM Investments, and the Constantakopoulos Family.
Sectors
- Venture Capital
- Technology
- Financial Services
Geography
- United Arab Emirates – The fund is headquartered in the UAE and targets start-ups in this region.
- Saudi Arabia – Backed by Saudi's Public Investment Fund, and targets start-ups in this geography.
- Europe – The fund allocates a portion of investments to European start-ups, especially from Greece.
Industry
- Venture Capital – The article discusses a venture capital fund launch focused on investing in early-stage start-ups.
- Technology – Targeted investments are in tech-driven industries like fintech, logistics, and proptech.
- Financial Services – The fund's focus on digitisation includes investments in the financial technology sector.
Financials
- $50 million – The total size of the Iliad Partners Tech Ventures Fund I.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Iliad Partners | Venture Capital Firm | Company | A UAE-headquartered VC firm launching a $50 million fund. |
| Public Investment Fund (PIF) | Capital Provider | Company | Saudi Arabia's sovereign wealth fund backing the venture fund through Jada Fund of Funds. |
| Olayan Family | Investor | Company | A major family group investing in the fund. |
| Masarrah Investment Company | Investor | Company | A stakeholder investing in the fund. |
| MLM Investments | Investor | Company | Investment firm contributing to the fund. |
| Constantakopoulos Family | Investor | Company | A Greek family group investing in the fund. |