Access Bridge Ventures launches with first close of its debut fund to invest in MENAP startups

Access Bridge Ventures launches with first close of its debut fund to invest in MENAP startups

Abu Dhabi-based early-stage VC firm Access Bridge Ventures has announced the launch and first close of its $25 million debut fund today. The firm did not disclose the exact size but told MENAbytes that it is a significant first close and it aims to hit the final close in a year.

The team behind Access Bridge Ventures includes Issa Aghabi and Rakan AlRashed who bring over 25 years of collective experience in tech investing in the region. Issa was previously with International Finance Corporation, leading their VC activities (investment in funds and startups) across the Middle East, North Africa, and Pakistan. Rakan, according to the statement, was part of a Saudi investment firm that focused on SMEs and startups. Dubai-based private equity firm ClearBridge Capital Partners has co-founded the fund.

Access Bridge Ventures' limited partners (LPs) include Mubadala Capital, Saudi Venture Capital Company, Public Investment Fund's Jada, and multiple family offices of the region, it said in a statement. The fund will invest in early-stage startups across the Middle East, North Africa, and Pakistan. The statement hints that the markets it will focus on will include Saudi, UAE, Egypt, and Pakistan. It will look for startups led by superstar teams and some traction.