Khwarizmi Ventures announces $70 million fund for the MENAP region

Noor Haider
Khwarizmi Ventures announces $70 million fund for the MENAP region
Khwarizmi Ventures announces $70 million fund for the MENAP region

The Saudi Arabia-based venture capital firm Khwarizmi Ventures has raised $70 million for its current fund to invest in early-stage startups in the Middle East, North Africa, and Pakistan.

About: Khwarizmi Ventures was founded in 2018 as an industry-agnostic firm by Yasser AlKadi.

Since it started, Khwarizmi has invested in 25 companies in 17 deals covering eight sectors in eight countries.

Fund Thesis: To back startups with proven traction in the MENAP region.

Initially, Khwarizmi was a corporate venture fund, but with the launch of its MENAP fund, it is now an institutional venture firm that invests in a variety of sectors.

It closed the first round of its current fund in October 2020 with $63 million.

Tell me more: Khwarizmi has already invested in a few startups across the MENAP region.

Startups from Pakistan include:

  • TAG
  • Dastgyr

In the UAE, it has invested in:

  • Trukker
  • Rewaa
  • Remotepass
  • Eyewa
  • Lyve Global

The fund has also invested in North Africa-based startups.

Before you go: Khwarizmi Ventures has so far made investments in logistics, fintech, e-commerce, food-tech, health-tech, and HR-tech startups.

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