Abu Dhabi’s Phoenix VC Fund Announces First Close

Phoenix Venture Partners announced the first closing on its Phoenix Venture Partners Innovation Fund for high-potential early-stage technology startups.

In an October 7 press release, the UAE-based venture capital fund manager said it captured commitments from professional investors such as family offices and high-net-worth individuals, though it did not disclose how much it has raised to date. The fund aims to support a portfolio of MENA and G20 companies across seven verticals: fintech, healthtech, edtech, agrifoodtech, logtech and mobility tech, energy tech and sustainability, and consumer tech.

Phoenix said the initial commitments will enable it to begin deploying capital to its portfolio companies as it continues to raise funds, with a target size of $50M by March 31, 2026.

View the press release here: https://tech.einnews.com/amp/pr_news/749048837/pvp-ltd-announces-a-first-close-of-the[…]cement-for-phoenix-venture-partners-innovation-fund-ceic-ltd