Dubai-linked VC fund bags USD 20 mn investment: Booster Fund IV — a venture capital fund managed by Dubai-based Beco Capital — has secured a USD 20 mn investment from Saudi Venture Capital (SVC), according to a pressrelease. The VC is targeting a USD 150 mn close for the fund early next year, General Partner Abdulaziz Al Sagha told EnterpriseAM UAE.

The details: To date, Booster Fund IV has made seven investments in various companies, including Mala, Ejari, Brkz, Sirdab, Flapkap, Keyper, and ClearGrid. The ticket sizes for investments out of the fundrange from USD 1 mn to USD 5 mn, with a target ownership of 10% at entry, Al Sagha told us.

About Beco Capital: Beco Capital is a Dubai-based early-stage venture capital firm focused on investing in technology-driven startups across the Gulf region. Its portfolio includes four funds, with a total of USD 495 mn in assets under management.

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