Emkan Capital, Saudi venture capital firm focused on early-stage tech start-ups across GCC and broader MENAP, launched a $31 million fund named Emkan Capital Fund I (ECP I).

ECP I, will oversee strategic investments in pre-seed and seed-stage companies across sectors such as FinTech, e-commerce, logistics, as well as AI, cyber, cloud and healthTech across the MENA region.

Emkan will be providing founders with access to the global advisory team’s mentorship as well as critical access to corporate partners and tier-1 investors.

“We are excited to launch such an important fund, which will help bridge the knowledge and funding gap that is stifling many founders’ ambitions and limiting growth opportunities. Particularly now, at a time when founders can find themselves drowning in options but starving for knowledge, we want to make our mark by supporting founders through mentorship and access to transformational relationships. This region is home to great minds and wonderful stories waiting to be told. We are proud to be able to be there for founders earlier, rather than later. We want to provide capital, but much more than that we want to offer guidance and support to the local talent on their journey to building great businesses,” Ghassan Aloshban, General Partner at Emkan Capital, said.

Emkan’s current portfolio of startups include InvestSky, NovoGenomics, FENIX, Trukkin, Mojo, Awaed, and Hubpay.