Speedinvest launches flagship MEA fund with Mubadala and QIA backing

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, according to a press release.

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.

Speedinvest is still raising the fund and is not disclosing the total size yet. What we do know: it is targeting average initial investments of around USD 5 mn, 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.

The real filter is execution, not geography: Asked how it would balance capital between mature Gulf markets and higher-growth but more volatile African hubs, the firm declined to disclose allocation quotas. Instead, it says it focuses on companies with “strong early traction and a clear path to scale beyond their home market from day one,” adding that “exceptional founders can build globally relevant companies from anywhere.”

Europe is part of the pitch

Cross-border expansion is central to the model. Speedinvest tells EnterpriseAM its Europe-MEA strategy is “very much a two-way bridge,” helping regional startups expand into Europe where relevant, while bringing European capital, sector expertise, and operating networks into local ecosystems.

“At a time of increasing global fragmentation, we believe building these kinds of long-term, cross-border connections is critical,” Abdel Latif said. “It’s not about one direction, but about creating the infrastructure and partnerships that allow founders to build enduring global companies from anywhere.”

What Mubadala and QIA really add

The sovereign names are not picking startups. Speedinvest said Mubadala, QIA, and EIB Global are long-term LPs and “are not involved in individual investment decisions,” with the firm retaining full independence over portfolio construction.

Still, their value goes beyond capital: Abdel Latif said the partnerships bring “deep local insight, strong regional networks, and a long-term perspective,” exactly the sort of advantages global funds increasingly need to compete in MENA and Africa.