Abu Dhabi-based Phoenix Venture Partners (PVP) has announced the successful third closing of its inaugural fund, Phoenix Venture Partners Innovation Fund CEIC Limited (PVPIF). Securing fresh capital from a diverse pool of international and regional backers, the firm is doubling down on early-stage technology opportunities across the Middle East and North Africa.
Quick Facts
- Third fund close completed with undisclosed value.
- New capital secured from US, European, and GCC backers.
- Final fund close targeted for October 2026.
Expanding the Global Investor Base for GCC Innovation
The latest capital injection brings in new limited partners from the United States, France, Saudi Arabia, Kuwait, and the United Arab Emirates. This diverse backer base includes institutional investors, family offices, and high-net-worth individuals, signaling strong international appetite for GCC-based tech assets.
While the financial value of the third close remains undisclosed, PVP confirmed that the influx of new capital broadens its global network. The firm continues to target high-growth companies that are building scalable, globally relevant solutions.
Navigating Regional Markets and Deploying Capital
Steve Khayat, Founder and CEO of PVP, emphasized that the timing of this latest close reflects the firm’s deep commitment to the region. He noted that continued backing from international limited partners underlines the resilience of the local venture capital ecosystem, even amid broader global market challenges.
“We reaffirm our commitment to a clear and steady vision for our investors, the founders we back, and the wider ecosystem within Abu Dhabi Global Market and across the region’s venture capital community,” Khayat stated.
PVP will continue deploying capital from PVPIF into its core focus areas as it works toward a final fund close in October 2026. This extended fundraising runway allows the firm to remain open to additional capital commitments while actively backing the next generation of MENA founders.
About Phoenix Venture Partners
Headquartered in the Abu Dhabi Global Market (ADGM) and regulated by the Financial Services Regulatory Authority (FSRA), Phoenix Venture Partners is a venture capital firm focused on early-stage technology investments.
Launched in 2024, the Phoenix Venture Partners Innovation Fund CEIC Limited (PVPIF) targets startups across the MENA region with a global outlook toward G20 economies. The fund’s sector-specific mandate covers fintech, insurtech, healthtech, edtech, logistics, mobility, agrifoodtech, energy, sustainability, and consumer tech.
Source: Entarabi
