–  Smpl Holdings has established Smpl Fund I, a $10 million fund dedicated to investing in technology and artificial intelligence companies in the Middle East, North Africa, and beyond.

–  According to founding partner Mohammad Abu Sheikh, the UAE’s progressive policies, tax-free environment, advanced infrastructure, and strategic location make it a prime destination for startups and global talent.

–  In 2023, the UAE attracted over $2 billion in venture funding for startups, showcasing the region’s rapid growth and increasing appeal to investors.

Smpl Holdings has launched a $10 million venture capital fund to support tech startups in the MENA region. The new fund, named Smpl Fund I, will invest in technology and artificial intelligence companies across the Middle East, North Africa, and beyond, according to a press release.

Mohammad Abu Sheikh, founding partner at Smpl, stated, “The UAE has emerged as a global hub for startups and innovation. The country’s progressive policies, tax-free environment, highly developed tech and civil infrastructure, and strategic location make it an attractive destination for startups and the world’s top talents.”

He added, “Moreover, the UAE’s workplace ethics, which prioritize respect, integrity, and social responsibility, are attracting global AI and tech companies. These ethics, along with the country’s commitment to creating a tech-friendly ecosystem, position the UAE as a global leader in AI adoption.”In 2023, the UAE attracted over $2 billion in venture funding for startups, marking significant growth over previous periods.