Agility Global, a multi-business operator and long-term investor, has announced its corporate venture capital arm will invest in a new fund to provide capital for early-stage companies in the Middle East and Africa (MEA).
This new fund is managed by Global Ventures, a Dubai-based firm specialising in growth-stage investments in emerging markets across the MEA region.
Agility Global has built a diverse portfolio through its venture capital arm, including clean energy, digital logistics, e-commerce, healthcare, and agri-tech startups. These investments focus on MEA-based companies or those seeking opportunities in the region.
Agility has been actively supporting the MEA’s entrepreneurial ecosystem by offering expertise and resources to help early-stage companies with go-to-market strategies.
Tarek Sultan, Agility Global’s Chairman, said, “We are passionate advocates for the region’s new generation of entrepreneurs and innovators. The Middle East and Africa are filled with entrepreneurial energy. Through Agility Ventures and our investment in Global Ventures' new fund, we aim to help startups scale innovative ideas.”
Sultan continued: “It’s important to recognise that only about 15% of VC 'cheque-writers' are women. We're excited to back a women-led fund in the region. As the ventures ecosystem grows, we hope to see more opportunities for women-led businesses, and we’re committed to supporting this development.”
Noor Sweid, Founder and Managing Partner of Global Ventures, expressed her excitement, stating: “Our new fund, Fund III, is aligned with the shift towards resource efficiency in sectors like supply chain. We are grateful for Agility Global's support, a leader in the supply chain sector. Together, we’ll continue backing mission-driven founders addressing critical challenges across the MEA region.”
Global Ventures has established three funds focusing on innovation companies in the MEA. Agility Global will invest in the third fund, launched this year, focusing on startups in supply chain technology, energy technology, and agri-tech.
Read More: Agility Reports Q1 2024 Net Profit of US$61 Million