COTU Ventures Announces $54 Million Fund to Fuel Middle East Startup Expansion

Dubai-based early-stage venture capital firm COTU Ventures has declared the successful closure of its first fund, securing an impressive $54 million to fuel the growth of startups across the Middle East region, from pre-seed to seed stages.

Achieving its final close last year, COTU Ventures specializes in identifying and supporting entrepreneurs from the very inception of their ventures through to post-product launch phases.

The firm typically invests between $500,000 and $2 million in startups, while also allocating funds for subsequent investments as needed.

Over the past two and a half years, COTU Ventures has been actively deploying its capital into startups within the Gulf Cooperation Council (GCC), with a primary focus on the United Arab Emirates (UAE) and Saudi Arabia, as well as Egypt and Pakistan.

With a portfolio already comprising over 20 early-stage startups spanning diverse sectors, the firm's commitment to fostering innovation is evident.

Founder and general partner, Amir Farha, shared insights in an interview with TechCrunch, highlighting COTU Ventures' slight preference towards fintech and B2B software ventures, although remaining open to compelling opportunities across other sectors.

Notable investments include Huspy, a UAE-based mortgage platform backed by Peak XV and Founders Fund, alongside Egyptian fintech startup MoneyHash.

Read More: MoneyHash Raises $4.5 Million for MEA Payment Tech Expansion

Farha underscored the burgeoning opportunities within the B2B software domain, emphasizing the potential for technology-driven solutions to address prevalent challenges faced by businesses.

He further articulated the firm's interest in high-margin industries, where technology can significantly enhance efficiency and capitalize on profit margins.

With its substantial fund and strategic investment approach, COTU Ventures is poised to play a pivotal role in driving innovation and entrepreneurship throughout the Middle East startup ecosystem.

Source: Tage Kene-Okafor / TechCrunch