FII 2024: Beta Lab's $300M Fund for Cross-Border Tech Ventures
Abdulrahman Alolayan, Beta Lab Founder & Managing Partner
On the opening day of Future Investment Initiative (FII) 2024, Beta Lab launched with a substantial $300 million capital, aiming to accelerate the development of technology startups across the Middle East and Southeast Asia. The fund focuses on fostering cross-border innovation, empowering companies in high-growth markets to expand and seize emerging opportunities.
Beta Lab stems from a collaborative venture involving prominent organizations, including Saudi Arabia’s Ministry of Investment, the Research, Development, and Innovation Authority, Hong Kong Science and Technology Parks (HKSTP), and Indonesia’s MDI Ventures. This strategic alliance aims to bolster entrepreneurial support and deploy tech-driven solutions for evolving market demands.
With a target on tech-driven startups at various growth stages, Beta Lab is committed to fueling projects that promise rapid expansion and addressing sector-specific challenges in fintech, digital health, AI, and smart mobility.
Source: EntArabi