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Dubai - base former - stage venture cap firmCOTU Venturesis announce that it has raise $ 54 million for its maiden fund to support startups in the Middle East from pre - semen to seed stages .
With a final close reach last year , COTU Ventures , which name and backs founders from the origin to post - product launch , invests between $ 500,000 and $ 2 million while reserve capital for postdate - on investments .
Over the retiring two and a half days , COTU Ventures has actively deployed capital into startup across the GCC ( Gulf Cooperation Council ) , focusing mainly on the UAE and Saudi Arabia , Egypt and Pakistan . The business firm has already back over 20 early - stage startups across various sector , as outlined in its instruction .
beginner and general partnerAmir Farharevealed in an consultation with TechCrunch that COTU Ventures is incline slightly toward fintech and B2B software . However , the house is open to opportunities across other sectors . notable investments by COTU Ventures includeHuspy , a UAE mortgage weapons platform backed by Peak XV and Founders Fund , and Egyptian fintech startupMoneyHash .
“ The consumer wave happened with Careem and some other applications . Today , businesses are lagging a bit behind , so there ’s a huge opportunity to build software to avail solve many of their problems . We are also concerned in high - margin industries where engineering can bring a massive part and capitalize on margin efficiencies , ” said Farha on the chance COTU is keen on .
Careem , the poster child of the startup scene in the MENA and GCC region , was one of the earliest investments Farha made as a VC at his late firm , BECO Capital .
Several years after turn at a bodied VC investing across the U.K. and Sweden and later running the first semen investment trust and angel connection in the region backed by the Dubai governing , Farha launch BECO Capital in 2012 , where he take part in operate the firm ’s investments , strategy and firm building try for its first fund ( $ 50 million ) and second fund ( $ 100 million ) before departing to launch COTU Ventures .
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While at BECO Capital , Farha and his spouse reelect the first fund , whose portfolio includes General Atlantic – backed PropertyFinder and Fresha , followingUber ’s skill of Careem . He also noted that BECO Capital ’s second fund , which includes well - capitalise inauguration such as Kitopi andMaxAB , “ is doing really well . ”
Reflecting on the evolving investment landscape , Farha explained how BECO Capital was actively involve in seed rounds ramble from a few hundred thousand dollars to Series B round of around $ 5 million before the ecosystem germinate to suit more sizable investment trust and bigger later - microscope stage investment . In this time , venture Das Kapital investments in the GCC region experienced significant growth , soar up from $ 20 million in 2012 to over $ 2 billion by 2020 .
Sequoia Capital India and Founders Fund back UAE - establish proptech startup Huspy in its $ 37 M round
As BECO Capital shifted its stress toward later - stage investments with heavy finances , Farha decide to depart in 2020 and set up COTU Ventures , doubling down on other - microscope stage investments . This decision , he explained , was drive by the recognition of a securities industry opening . Despite the meaning maturation of the GCC tech ecosystem in terms of Washington and natural endowment , there remained a all important need for support beyond just support at the early stage of startup development .
Farha assert that a founder ’s rearing and early life experiences can offer valuable insights into their potential for winner . At COTU Ventures , he emphasizes the importance of candid conversations that delve late into a laminitis ’s personal and professional journey , exploring significant life events and decisions . By fostering such open dialogue , COTU Ventures take aim to establish trust and strong connections with founders , enabling the firm to make more informed investment decisions .
Moreover , Farha foreground that this scheme allows the business firm to bring home the bacon strategic guidance on fundraising , organisational development , and go - to - grocery scheme . He added that the speculation uppercase firm also facilitates creation to fundamental stakeholders such as customers , hires , and possible follow - on investors , offer comprehensive accompaniment to its portfolio company as they pilot Series A rounds and beyond .
“ I enjoy the chaos of the earlier stage where you ’re give away , experimenting and examination . thing depend great , but one daylight , thing look difficult , and then you are taste to help solve problems along the way . So that environment suit me as an investor well , ” remarked Farha . “ Also , there ’s a gap . The region is still early and nobody ’s owning early - stage with conviction . You have the bounteous firms investing small check in the pre - seed stages but do n’t expend enough time helping them until they get through product market fit . So , I call up there ’s that space to be the go - to party that beginner desire to have on their detonating equipment table . ”
COTU Ventures ’ limited partners include Lunate , Mubadala , Dubai Future District Fund , Arab Bank , Bupa KSA , and GPs from VCs , include Foundry Group , Tribe Capital , Stride , and several family offices .
“ We ’re proud to have backed a stock that ’s distinguished not only by its telling portfolio but by the olympian leadership and track record of its found partner , Amir , ” said Sharif El - Badawi , CEO of Dubai Future District Fund , in a statement . “ Our confidence in Amir stems from his deep Passion of Christ for supporting founder and his proven ability to find remarkable investing opportunities before anyone else . ”
