Cairo-based Beltone partners with Citadel to manage $30mn startup fund

Cairo-based Beltone partners with Citadel to manage $30mn startup fund

Beltone Holding (Beltone), one of the fastest-growing financial institutions, has announced that its wholly-owned subsidiary, Beltone Venture Capital (BVC), signed a partnership agreement with CI Venture Capital, a wholly-owned subsidiary of Citadel International Holdings, a prominent investment management firm headquartered in Abu Dhabi. The partnership aims to manage a $30 million fund to back fast-growing […]Beltone Holding (Beltone), one of the fastest-growing financial institutions, has announced that its wholly-owned subsidiary, Beltone Venture Capital (BVC), signed a partnership agreement with CI Venture Capital, a wholly-owned subsidiary of Citadel International Holdings, a prominent investment management firm headquartered in Abu Dhabi.

The partnership aims to manage a $30 million fund to back fast-growing startups. The Fund has already started deploying in the last couple of months, finalizing transactions with a couple of top startups from different countries and various sectors in the region such as Bosta, Trella, Qlub, and Ariika.

“We are proud and excited to partner with Beltone Venture Capital to support the growth of high-potential technology companies. Our investment will contribute to the development of the early-stage innovation ecosystem in the MENA region,” said Fady Dahlan, Managing Partner of CI Venture Capital.

Ali MokhtarCEO – Beltone Venture Capital

“The Fund is a continuation of the