Beltone and Citadel Holdings partner to manage $30 million VC fund

👋 Say hello to Beltone Venture Capital! They’ve teamed up with CI Venture Capital to manage new $30 million fund aimed at boosting fast-growing tech startups across the MENA region.

• A subsidiary of Beltone Holding, BVC was established in 2023 with the aim of stimulating and providing sustainable funding for early-stage tech and tech-enabled startups in Egypt with regional ambitions.
• CI Venture Capital, a subsidiary of UAE's Citadel International Holdings, invests in emerging and regional SMEs, providing equity capital, debt financing, and growth expertise to its partners.

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🎯 Target areas

The fund will invest in pre-seed and seed rounds of innovative MENA-based tech startups and continue supporting its top-performing portfolio companies.

Since its inception in 2023, the fund has already begun deploying capital, finalising transactions in startups, including Bosta, Trella, Qlub, and ariika, over the last couple of months.

We are proud to support the growth of high-potential technology companies and contribute to the development of the early-stage innovation ecosystem in the MENA region.

Fady Dahlan, Managing Partner at CI Venture Capital

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🌱 Doubling down on early stage

Ali Mokhtar, CEO of Beltone Venture Capital, emphasised the fund's commitment to investing in pre-seed and seed funding rounds.

This strategy includes supporting standout portfolio companies through subsequent funding rounds and exploring promising investment opportunities across various stages.

• A core focus? High-margin sectors where technology can drive growth.