A partnership between BVC and CI Venture Capital to support entrepreneurial projects with $30 million
Beltone Holding, one of the fastest-growing financial institutions, has announced that its wholly-owned subsidiary, Beltone Venture Capital (BVC), has signed a partnership agreement with CI Venture Capital, a wholly-owned subsidiary of Citadel International Holdings, a prominent investment management firm headquartered in Abu Dhabi, to manage a $30 million fund aimed at supporting fast-growing startups.
The fund has already begun deploying capital over the past few months, finalizing transactions with several top startups from various countries and sectors in the region, 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 represents a continuation of the same strategy Beltone Venture Capital has been executing since its inception in 2023.
This aligns with our fundamental principle of acting as partners to founders and value investors, supporting startups in scaling up and reaching their full potential.
We aim to expand our regional presence with a focus on high-margin sectors that offer significant anticipated 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 subsequent rounds, in addition to potentially investing in attractive opportunities at different stages of funding.
