Ibtikar Fund closes their second fund at $25mln
Dubai, UAE: Ibtikar Fund, a disruptive venture capital firm that invests in innovative companies founded by Palestinian entrepreneurs in the West Bank, Saudi Arabia, the United Arab Emirates, and the wider Middle East and North Africa (MENA) Region.
Ibtikar is the only Palestinian venture capital fund targeting early-stage Palestinian-founded startups. Ibtikar's team led by its managing partners, Ambar Amleh and Habib Hazzan, have successfully announced the final close of Ibtikar's second fund at 25,000,000 USD. With the support of their venture-focused legal team, Kassim Legal, Ibtikar finalized the investment onboarding process for a key European institutional investor. They secured $3,000,000 in funding from the European Bank for Reconstruction and Development (EBRD), welcoming them as a Limited Partner of the fund.
The second fund seeks to invest in 25-tech startups founded by Palestinian entrepreneurs in the MENA region. The fund has already finalized major investments in companies like DataQueue, Mental, and Vatrin. The underlying common factor between all three companies is their growth beyond local markets to achieve an impact regionally.
'This final closing marks an important step in our mission to provide much-needed capital to Palestinian founders, supporting them as they scale their businesses, fostering a tech ecosystem that is resilient and future-focused," said Ambar Amleh, Managing Partner at Ibtikar Fund.
In the upcoming years, Ibtikar Fund II is set to play a significant role in the strengthening of the Palestinian and regional economies. By providing startups with access to previously unreachable markets, the fund enables them to expand their offerings and scale their impact.
About Ibtikar Fund:
Ibtikar (Innovation, in Arabic) is a disruptive venture capital firm that invests in innovative companies founded by Palestinian entrepreneurs.
Our goal is to maximize return for our investors by supporting high-potential Palestinian companies in answering regional and global needs. We do this through direct support from our management team and select group of advisors and leverage the strong network of our investors and partners for the benefit of each of our portfolio companies.
Investment Strategy:
Ibtikar is looking for motivated and skilled Palestinian entrepreneurs, from both Palestine and the MENA region. We are looking for tech or tech-enabled startups that are scalable and that serve a regional or global need.
We will evaluate companies based on the ability and vision to succeed, the scalability of the business models, and markets with high growth opportunities. We seek to invest in a diversified portfolio of companies, in terms of stage, target markets, and technologies to maximize profitability and mitigate risk.
We fund startups from Seed to Series A rounds and couple our funding with continuous guidance and support.
We believe in cooperation with other funders and support organizations and are therefore open to co-investment and other support opportunities for our portfolio.
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