Palestinian VC Ibtikar Makes $25M Fund II Close

Palestinian tech venture firm Ibtikar gathered $25M in capital commitments on the final close of its second-generation VC fund, raising more than double its predecessor which closed on $10.35M.

Following its first close in January 2022 with $15M in initial capital commitments, Ibtikar Fund II captured an additional $10M, including a $3M allocation from the European Bank for Reconstruction and Development. Fund II will build on Fund I’s momentum through investments in 25 Palestinian-founded high-potential tech startups across the MENA region.

Ibtikar said its second vintage fund has already completed major investments in three platforms to date: AI services and data collection provider DataQueue, interactive web and VR-based training company Mental, and online commercial platform Vatrin.

Source: https://menafn.com/1108851237/Ibtikar-Fund-Closes-their-Second-Fund-at-25-Million-Dollars