Egypt-based VC fund Beltone Venture Capital (BVC), a subsidiary of Beltone Holding, has partnered with CI Venture Capital, a subsidiary of UAE’s investment group Citadel International Holdings, to manage a $30 million fund to back fast-growing startups.
Beltone Holding is a financial services provider that offers a comprehensive and growing set of financial solutions such as brokerage, investment banking, asset management, equity research, and private equity, in addition to end-to-end non-banking financial institutions (NBFIs) including leasing, factoring, consumer finance, venture capital, mortgage finance and microfinance.
“We are proud and excited to partner with Beltone Venture Capital to support the growth of high-potential technology companies. Our investment will contribute to the development of the early-stage innovation ecosystem in the MENA region,” said Fady Dahlan, Managing Partner of CI Venture Capital.
According to Ali Mokhtar, CEO of Beltone Venture Capital, The Fund is a continuation of the same strategy Beltone Venture Capital has been executing since its inception in 2023. This is aligned with our fundamental principle of acting as founders’ partners and value investors, supporting startups’ scaling up and reaching their full potential. We are aiming to expand our regional presence with a focus on high-margin sectors that offer foreseen exponential growth where technology can play a substantial role.
Mokhtar added: “The Fund will typically invest in pre-seed and seed funding rounds and will continue to support the best-performing portfolio companies in follow-up rounds; in addition to potentially investing in attractive opportunities at different funding stages.”
The Company is driven by a vision to redefine the financial ecosystem in the region by capitalizing on global expertise, knowledge and disruptive, value-accretive solutions that unlocks limitless opportunities for clients, to drive market value and impactful results.