Azimut, Gellify launch $50m VC Fund to support MENA startups

azimut, fund, startups, gellify, mena,
  • Date: 18-Oct-2021
  • Source: Mubasher
  • Sector: Technology
  • Country: UAE
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Azimut, Gellify launch $50m VC Fund to support MENA startups

Azimut (ME) Limited ADGM, part of the European independent asset manager Azimut, has partnered with Gellify Middle East to launch a MENA-focused VC Fund aiming to secure $50 million capital. The new VC Fund seeks to enable B2B startups, including seed-stage and market phase startups, in MENA to create innovation across several areas such as Smart City, healthcare, digital commerce, fintech, Industry 4.0, and tourism, according to a press release on Monday. Both entities have been co-investing in the Middle East, as in June 2021, the Azimut Gellify Digitech Fund invested in Workfam, a UAE-based employee SaaS platform company, to help its growth. The said: Meanwhile, the , commented:

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