UK-based international investment firm Hambro Perks has announced the launch and initial close of its Abu Dhabi-based $50 million VC fund, Oryx Fund, targeting early-stage startups in the Middle East and North Africa (Mena) region.
The fund has attracted commitments from a number of regional and international investors, including Jada Fund of Funds, Saudi Venture Capital Company (SVC), and Riyadh Valley Company alongside prominent regional family offices. The company said in its release that it looks to invest primarily in startups in fintech, healthtech, and edtech.
The Oryx Fund team will be headed jointly by three General Partners: Dominic Perks, co-founder and CEO of Hambro Perks, Ali Qaiser, managing director of Hambro Perks, and Ivo Detelinov who joined the Oryx Fund from the $150 million Riyad Taqnia Fund (RTF).
“We are delighted to be launching the Oryx Fund; there is a wealth of talented entrepreneurs developing innovative businesses and we are excited about partnering with them to help them develop their ideas and scale their companies. We are honoured to have received backing from renowned investors such as Jada Fund of Funds and SVC, and we share their belief in the potential for technology startups in the region,” said Perks.
Previously, the Oryx Fund team made a number of investments in the region across multiple industry verticals including fintech and logistics. Internationally, Hambro Perks has backed well-known venture capital success stories, including what3words, Primary Bid and Echo.
“By combining our deep international experience of investing in technology startups with our local knowledge, we believe the Oryx Fund offers a unique opportunity for investors and entrepreneurs alike to harness the growth ambitions of the Middle Eastern startup industry. We look forward to working closely with the founder community in the region to help them realise their business ambitions with the help of our expertise,” said Qaiser.
Hambro Perks' existing Mena investments in the region include Sarwa, an online platform that makes investing in global markets simple and affordable for investors.
“We are excited to be Hambro Perks’ first investment in the Mena region, and we remain extremely grateful for their support, which has enabled our growth and development. We are delighted to see international VC players enter the regional ecosystem to help growth companies like Sarwa scale and raise money globally,” said Mark Chahwan, co-founder and CEO of Sarwa.