One of the financial institutions with the fastest rate of growth, Beltone Holding (“Beltone”), announces that its wholly-owned subsidiary, Beltone Venture Capital (“BVC”), has partnered with CI Venture Capital, a wholly-owned subsidiary of Citadel International Holdings, a well-known investment management company with its headquarters located in Abu Dhabi, to manage a $30 million fund aimed at supporting rapidly expanding startups.
In the past few months, the Fund has already begun to deploy, concluding deals with a few of the region’s leading startups from diverse industries and nations, including Bosta, Trella, Qlub, and Ariika.
“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.
Ali Mokhtar, CEO of Beltone Venture Capital, commented: “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.”
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