UAE and Saudi based Enhance Ventures launches a $30m Builders Fund

UAE and Saudi based Enhance Ventures launches a $30m Builders Fund

Enhance Ventures, MENAPT region’s venture studio, launches a $30m Builders Fund to invest in the studio’s next set of startups.

The venture studio specializes in investing in promising digital businesses across the Middle East, North Africa, Pakistan and Turkey, during the early stages of the businesses’ development.

Their newly-launched Builders Fund aims to to create 5,000 high-tech jobs, produce 500 business leaders, train 50 capable founders, and be the institutional cofounder of at least 5 major exits in the region in the next 5-10 years, with a keen interest in FinTech businesses in specific.

“As a venture studio, we support founders materially in the early stages of venture development, when they need help the most. This dramatically increases the success rate for startups, and makes entrepreneurship an economic engine for our region. As a studio, we plan to expedite ecosystem development and increase activity between this ecosystem, starting with Dubai and Riyadh, and other, more developed ecosystems.” said Mohammad AlHokail, Partner in Enhance Ventures.

The next set of startups, which the program will be funding, will primarily focus on the gaps found in the FinTech market.

“Trends such as web3, open banking, the move to a cashless society, the need for frictionless consumer and SME finance, and the growth of B2B commerce have created new opportunities in the MENAPT region,” said Ritesh Tilani, Partner in Enhance Ventures.

Read more: Saudi Arabia to launch $80b Neom Investment Fund

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