Font Size
Share this article


Print Friendly Version
05 November 2019
TECHNOLOGY

New York-based Modus Capital launches a $75 million MENA fund

The fund will focus on MENA-based early-stage or post-accelerator technology companies as well as SMEs where technology can enable them to grow.

SHUTTERSTOCK/STUDIO SS


New York-based Modus Capital has launched its first regional fund, Modus MENA Venture Fund I (MMVFI), a $75 million fund targeting early and growth-stage companies across the Middle East and North Africa.

The fund also includes an allocation for US-based companies that are portable to the MENA region. The asset allocation by stage serves as a major de-risking measure to Limited Partners as more mature companies carry significantly less risk.

The hybrid venture capital firm is making investments through an incubation programme starting from $50,000 to $250,000, and up to $1 million for seed and Series A rounds. 

The firm has funding interest in fintechs, healthtech as well as direct to consumer e-commerce, enterprise and consumer SaaS products in addition to products leveraging blockchain protocols, said Modus Capital.

The first investment from the fund was made in Q4 2018 and it was complemented with the launch of the Egyptian office in November the same year.


RELATED STORIES: MODUS MENA VENTURE FUND I MODUS CAPITAL

MOST READ


RECOMMENDED NEWS



BRANDS MAGAZINES LATEST EDITION

OUR BRANDS



CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.


Subscribe to our News Letter

Subscribe

© 2019 CPI Financial. All rights reserved.

No part of this website may be reproduced or used in any form of advertising without prior permission in writing from the editor.