{"id":98699,"date":"2024-12-11T00:00:00","date_gmt":"2024-12-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/iliad-partners-set-up-usd-50-mn-fund-to-invest-in-uae-and-ksa-startups\/"},"modified":"2024-12-11T00:00:00","modified_gmt":"2024-12-11T00:00:00","slug":"iliad-partners-set-up-usd-50-mn-fund-to-invest-in-uae-and-ksa-startups","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/iliad-partners-set-up-usd-50-mn-fund-to-invest-in-uae-and-ksa-startups\/","title":{"rendered":"Iliad Partners set up USD 50 mn fund to invest in UAE and KSA startups"},"content":{"rendered":"

Local venture capital firm <\/strong>Iliad Partners<\/a><\/strong> reached first close on a USD 50<\/strong> mn fund to invest in <\/strong>early stage startups<\/strong> in the UAE and Saudi Arabia it said in a statement<\/a>. Iliad Partners Tech Ventures Fund I will focus primarily on pre-series A and series A B2B software startups with an agenda for driving digitization in targeted sectors, including fintech, logistics and proptech. The fund will allocate 10% of its capital to European startups, particularly Greek ones, that are looking to expand into the MENA region.<\/p>\n

Its backers: <\/strong>The fund is backed by the Jada Fund of Funds (a subsidiary of Saudi\u2019s Public Investment Fund), the Olayan Family, Masarrah Investment Company, MLM Investments, the Constantakopoulos Family of Greece, among others. <\/p>\n

The fund has an initial portfolio of investments<\/strong> including logistics startup OTO and procurement startup Penny Software, both Saudi-based, as well as UAE-based fintech platform Qashio<\/a>.<\/p>\n

About Iliad Partners: <\/strong>Founded in 2017 by Christos Mastoras (LinkedIn<\/a>) and Omar Al Madhi (LinkedIn<\/a>), the VC firm focuses on the fintech, logistics, and proptech sectors and boasts a considerable network in the MENA region and in Europe. <\/p>\n","protected":false},"excerpt":{"rendered":"

The fund will focus on early-stage startups, and has OTO and Penny software as part of its portfolio<\/p>\n","protected":false},"author":1,"featured_media":98700,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1557],"tags":[7,2004,25,78,274],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseam-uae","tag-iliad-partners","tag-investment-watch","tag-startup-watch","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"7f2ac48d-00f9-4ac9-8eb4-6696063fcf89","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/1010.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Iliad Partners set up USD 50 mn fund to invest in UAE and KSA startups","related_issue":[98683],"teaser":"The fund will focus on early-stage startups, and has OTO and Penny software as part of its portfolio","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.03670a56-17ea-456c-b1a9-7b23f8a6de84.mp3"},"yoast_head":"\nIliad Partners set up USD 50 mn fund to invest in UAE and KSA startups - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/iliad-partners-set-up-usd-50-mn-fund-to-invest-in-uae-and-ksa-startups\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iliad Partners set up USD 50 mn fund to invest in UAE and KSA startups\" \/>\n<meta property=\"og:description\" content=\"The fund will focus on early-stage startups, and has OTO and Penny software as part of its portfolio\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/iliad-partners-set-up-usd-50-mn-fund-to-invest-in-uae-and-ksa-startups\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-11T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1010.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/iliad-partners-set-up-usd-50-mn-fund-to-invest-in-uae-and-ksa-startups\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/iliad-partners-set-up-usd-50-mn-fund-to-invest-in-uae-and-ksa-startups\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Iliad Partners set up USD 50 mn fund to invest in UAE and KSA startups\",\"datePublished\":\"2024-12-11T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/iliad-partners-set-up-usd-50-mn-fund-to-invest-in-uae-and-ksa-startups\/\"},\"wordCount\":198,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/iliad-partners-set-up-usd-50-mn-fund-to-invest-in-uae-and-ksa-startups\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1010.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM UAE\",\"Iliad Partners\",\"INVESTMENT WATCH\",\"STARTUP WATCH\",\"VENTURE CAPITAL\"],\"articleSection\":[\"INVESTMENT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/iliad-partners-set-up-usd-50-mn-fund-to-invest-in-uae-and-ksa-startups\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/12\/11\/iliad-partners-set-up-usd-50-mn-fund-to-invest-in-uae-and-ksa-startups\/\",\"name\":\"Iliad Partners set up USD 50 mn fund to invest in UAE and KSA startups - 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