Arab Finance: Beltone Venture Capital (BVC), a subsidiary of Beltone Holding, has entered into a partnership agreement with CI Venture Capital, a subsidiary of Citadel International Holdings, to manage a $30 million fund dedicated to supporting early-stage startups, as per a statement.

Under this agreement, BVC and CI Venture Capital will invest in fast-growing startups across various sectors and countries in the MENA region.

The fund has already commenced deployment, finalizing transactions in recent months with startups including Bosta, Trella, Qlub, and ariika.

“The fund will typically invest in pre-seed and seed funding rounds and will continue to support the best-performing portfolio companies in follow-up rounds; in addition to potentially investing in attractive opportunities at different funding stages,” CEO of Beltone Venture Capital Ali Mokhtar said.

“Our investment will contribute to the development of the early-stage innovation ecosystem in the MENA region”, Fady Dahlan, Managing Partner of CI Venture Capital, stated.

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