Phoenix Venture Partners Limited (PVP) Secures Third Close for Innovation Fund

PVP Founders: Faris Al-Obaid, Steve Khayat, and Mussaad M. Al-Razouki  

Phoenix Venture Partners Limited (PVP) has successfully completed the third closing of its inaugural fund, Phoenix Venture Partners Innovation Fund CEIC Limited (PVPIF), following the addition of new investors from the United States, France, Saudi Arabia, Kuwait, and the United Arab Emirates.

The value of the closing was not disclosed.

The third closing reflects a diversified investor base, including institutional investors, family offices, and high-net-worth individuals.

The move further strengthens PVP’s global network and underscores growing interest in innovation-driven investment opportunities across the GCC and MENA region.

Commenting on the announcement, Steve Khayat, Founder and CEO of PVP, said:

“The timing of this closing reflects not only PVP’s commitment to the GCC and the broader MENA region, but also that of our investors.”

He added:

“Despite ongoing regional challenges impacting global markets, our shared confidence highlights the resilience of the GCC’s venture capital landscape and the broader financial ecosystem.”

He further noted:

“We reaffirm our commitment to a clear and steady vision for our investors, the founders we back, and the wider ecosystem within Abu Dhabi Global Market and across the region’s venture capital community.”

PVP continues to deploy capital through PVPIF into high-growth, innovation-driven companies across the region, with a focus on scalable technologies and globally relevant solutions.

The fund remains open to additional capital commitments ahead of its planned final close in October 2026, reinforcing PVP’s role in supporting the next generation of founders and advancing the region’s venture ecosystem.

About Phoenix Venture Partners Limited

Phoenix Venture Partners (PVP) is a venture capital firm headquartered in Abu Dhabi Global Market (ADGM) and regulated by the Financial Services Regulatory Authority (FSRA).

Phoenix Venture Partners Innovation Fund CEIC Limited (PVPIF), established in 2024, is a sector-focused venture capital fund investing in early-stage technology startups across several sectors, including:

• Fintech & Insurtech
• Healthtech
• Edtech
• Logistics & Mobility Tech
• AgriFoodtech
• Energy & Sustainability
• Consumer Tech

The fund focuses on the MENA region with a global outlook targeting G20 economies.

Source: Entarabi