European VC firm Speedinvest launches MENA + Africa fund

European venture capital firm Speedinvest launched its first flagship fund targeting early growth-stage startups across the Middle East and Africa, backed by Mubadala, Qatar Investment Authority (QIA), and EIB Global. The move formalizes a regional push the firm says it has been building for years through existing wagers like UAE-based Flow48, Egypt’s Khazna, Nigeria’s FairMoney and Moove, and Pakistan’s Abhi.

The Gulf sovereigns will bring “strong regional networks” to the table, Abdel Latif suggests, alongside “deep local insight [and a] long-term perspective.”

Speedinvest is still raising the fund and is not disclosing the total size yet, but is targeting initial checks of around USD 5 mn per deal, primarily at series A and B, with reserve capital for follow-ons. “We’re already actively deploying capital, with our first investments progressing and announcements to follow,” Rana Abdel Latif, partner at Speedinvest, tells EnterpriseAM.

Where they’re committing capital: Abdel Latif declined to say how much would be earmarked for Gulf markets vs African hubs, saying the firm focuses on companies with “strong early traction and a clear path to scale beyond their home market from day one.”

The pitch to potential portfolio companies: Speedinvest’s Europe-MEA strategy is “very much a two-way bridge,” helping regional startups expand into Europe while channeling European capital, sector expertise, and operating networks into local ecosystem, Abdel Latif says.