HomeUAECotu Ventures Closes Inaugural Fund, at $54M

Cotu Ventures Closes Inaugural Fund, at $54M

COTU Ventures
from left to right, Nourhan Abdelaal, Amir Farha, Ahmad Hammoudi, Kayra Yasa and Anthony Khoury

COTU Ventures, a Dubai, UAE-based seed-stage venture capital firm, closed its first fund, at $54M.

Limited partners included Lunate, Mubadala, Dubai Future District Fund, Arab Bank, Bupa KSA, and GPs from VCs, including Foundry Group, Tribe Capital, Stride, and several family offices.

The new fund is sector-agnostic with a focus on identifying and supporting founders at the inception of their idea to post-product launch, typically investing between $500K to $1.5M as a first check.

To date, the vehicle has invested in over 20 early-stage companies, including Huspy, a provider of a mortgage platform in the UAE (backed by Peak XV, Founders Fund and Fifth Wall), Supy, a UAE-based ResTech platform, MoneyHash, an Egyptian FinTech startup, and Sirdab, a provider of a storage and warehouse management solution in Saudi Arabia.

Founded in 2021 by Amir Farha, Cotu Ventures partners with founders at the beginning of their journey, taking companies from Pre-Seed and Seed through Series A and beyond, accelerating their path to product-market fit, and ensuring they get access to the right capital and expertise along the way.

Cotu primarily invests in the MENA region with a focus on UAE, KSA, and Egypt.

Amir Farha, one of the pioneers of early-stage VC in the Middle East, co-founded BECO Capital in 2012 and backed top startups including Careem (acquired by Uber for $3.1b), Property Finder (backed by General Atlantic), Kitopi and Fresha, founded COTU Ventures in 2021. In addition to Farha, the team of six includes Kayra Yasa, Ahmad Hammoudi, Nourhan Abdelaal, Anthony Khoury, and Yusuf Saber.

VCWire

27/02/2024