Iliad Partners Launches $50M VC Fund Targeting GCC and European Start-ups
Funding | Dec 11, 2024 | Zawya
Iliad Partners, a UAE-headquartered venture capital firm, has launched a $50 million fund intended to invest in early-stage start-ups in the United Arab Emirates and Saudi Arabia. The fund, Iliad Partners Tech Ventures Fund I, is supported by Saudi Arabia's PIF's Jada Fund of Funds, among other major investors, including family offices like the Olayan Family and the Constantakopoulos Family of Greece. The fund aims to finance young businesses at the Pre-Series A and Series A levels, particularly those in sectors like fintech, logistics, and proptech. Additionally, 10% of the fund is earmarked for European start-ups, especially those in Greece, with potential to expand into the MENA region. This initiative is positioned to propel the burgeoning technological transformation and innovation-driven growth initiative within the region.
Sectors
- Venture Capital
- Technology
- Financial Services
Geography
- United Arab Emirates – The UAE is where Iliad Partners is headquartered and constitutes a major target region for the venture capital fund.
- Saudi Arabia – Significant due to funding support from Saudi PIF's Jada Fund and focus on investing in Saudi start-ups.
- Greece – Part of the 10% European focus of the fund, Greece is specifically mentioned as a target for start-ups aiming to enter the MENA region.
- Middle East and North Africa – The overall region targeted for growth and entrepreneurship transformation through investment.
- Europe – A portion of the fund is allocated for European start-ups looking to expand into MENA.
Industry
- Venture Capital – The article discusses the launch of a venture capital fund by Iliad Partners, focusing on investments in early-stage start-ups in MENA and Europe.
- Technology – The fund primarily targets B2B software start-ups in fintech, logistics, and proptech, key sectors within the technology industry.
- Financial Services – The fund aims to support businesses driving digitization, particularly in fintech, a segment of the financial services industry.
Financials
- $50 million – The size of the Iliad Partners Tech Ventures Fund I.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Iliad Partners | Venture Capital Firm | Company | UAE-headquartered VC firm launching the $50 million Tech Ventures Fund I. |
| Jada Fund of Funds | Investor | Company | Part of Saudi PIF, backing the Iliad Partners fund. |
| Olayan Family | Investor | Company | One of the major family groups and family offices backing the fund. |
| Masarrah Investment Company | Investor | Company | Investor backing Iliad Partners' new fund. |
| MLM Investments | Investor | Company | Investor backing the fund. |
| Constantakopoulos Family | Investor | Company | Greek family involved in backing the new fund. |
| Christos Mastoras | Founder and Managing Partner | Person | Founder and Managing Partner of Iliad Partners, spearheading the fund initiative. |