CoreVision acquires VeFund to boost startup ecosystem

CoreVision acquires VeFund to boost startup ecosystem

Saudi Arabia-based investment firm CoreVision has acquired a strategic stake in the Mena-focused  investment management platform VeFund.

Founded in 2023 by Mohamed Gaber and Ahmed Magdy, VeFund’s platform connects startups with investors by providing tools like an AI Survivability Index, valuation calculators, and extensive portfolio management solutions.

The new coalition will boost CoreVision's plans to expand into the startup community, enhancing its portfolio with AI-driven technologies.

Press release:

Saudi Arabian investment firm CoreVision is thrilled to announce the acquisition of VeFund, a pioneering platform at the forefront of startup evaluation and investor connections. This strategic partnership marks a significant milestone in CoreVision's expansion into the startup community, enhancing its portfolio with AI-driven technologies.

Founded in 2023 by serial entrepreneur and AI expert Mohamed Gaber and his co-founder, Ahmed Magdy, VeFund has established itself as a leader in the startup investment sector through its pioneering AI evaluator. This technology is celebrated for seamlessly connecting startups with investors by providing crucial tools like an AI Survivability Index, valuation calculators, and extensive portfolio management solutions. Beyond these offerings, VeFund has played a pivotal role in assisting esteemed organisations such as CODE, Monshaat and the Development Bank of Saudi Arabia in organising demo days, effectively sourcing and evaluating startups, and