• Palm Ventures recently announced a $30 million fund targeting early-stage startups in MENA. 
• The recent fund mainly focuses on AI, fintech, and business solutions.
• Since 2014, Palm Ventures has backed over 40 startups, with 20 investments between 2020 and 2024. 

Palm Ventures, an investor in startups across the Middle East and North Africa, has recently closed a $30 million investment fund. This move comes to support early-stage businesses across the region.

Part of this fund will target US-based AI startups highlighting the firm’s focus on global technological advancements.

This investment targets AI, Fintech, and business solutions, three major sectors fostering digital transformation. 

Startup Investments

Startups will receive capital and strategic guidance to expand their operations and contribute to the evolving digital economy. 

Palm Ventures was founded in 2014 and worked on fostering entrepreneurship across MENA. Over the years, the firm has already supported 40 startups across various sectors and collaborated with government entities for more innovative initiatives. 

Between 2020 and 2024, Palm Ventures invested in 20 startups in MENA and U.S.-based AI ventures.

Looking Ahead 

The startup ecosystem is growing in the MENA and the firm sees this as an opportunity to support early-stage companies. It also plans to connect startups with global advancements, particularly AI, to enhance innovation and competitiveness.

Such efforts align to enhance digital transformation in the region as investors and governments are emphasizing technology-driven economic growth. The firm is trying to drive a long-term impact by investing in growing startups and establishing international collaborations.