• UAE-based VC firm Phoenix Venture Partners has announced the first close of its $50 million Phoenix Venture Partners Innovation Fund CEIC (PVPIF) with commitments from family offices and high-net-worth individuals.
• The fund aims to invest in early-stage startups in MENA across fintech, healthtech, edtech, agri-foodtech, logistics and mobility, sustainability, and consumer tech. 

Press release:

Phoenix Venture Partners ("PVP") announced on 19 February 2025 the successful second closing of its fund, Phoenix Venture Partners Innovation Fund (CEIC) Limited ("PVPIF"). This milestone marks a significant step forward in PVP's mission to support and invest in groundbreaking innovations and technologies.

The second closing brings in a diverse group of investors from France, Luxembourg, Mauritius, Kuwait, and the Kingdom of Saudi Arabia (KSA). This group includes institutional investors, family offices, and high-net-worth individuals (HNWI). PVP is honoured to welcome these esteemed investors, whose participation underscores the global confidence in PVPIF's strategic vision and investment approach.

"We are thrilled to be supported by such a distinguished group of investors from around the world," said Steve Khayat, Founder & CEO at Phoenix Venture Partners. "Their commitment is a testament to the strength of our investment strategy and the potential of the innovative companies we are backing."

PVPIF focuses on early-stage investments in disruptive technologies across various sectors, including fintech & insurtech, healthtech, edtech, agri-food tech, energy tech & sustainability, e-logistics & mobility tech, and consumer tech, focusing on the MENA region with a global outlook (G20 economies).  With the additional capital from this second closing, PVPIF is well-positioned to execute live deals, expand its portfolio and drive meaningful impact in the innovation ecosystem.

Phoenix Venture Partners remains dedicated to fostering innovation and delivering value to its investors. The firm looks forward to continuing its work with visionary entrepreneurs and industry leaders to build the next generation of disruptive companies.