UAE-based venture capital firm BY Venture Partners has closed its third fund at $60 million, anchored by the Dubai Future District Fund (DFDF). MultiLane, Transmed Capital, the Idriss Family Office and other institutional and private investors also participated, according to the announcement.
The close brings BY Venture Partners’ reported assets under management, including co-investment vehicles, to more than $200 million. Founded in 2015 by Ghaith Yafi, Abdallah Yafi, Rami Jisr and Sohrab Jahanbani, the firm invests in early-stage technology startups across more than 16 international markets.
Fund III will back AI-native startups from pre-seed to Series A, investing primarily up to $1 million per company. Its focus is on businesses applying AI to transform enterprise workflows and scale globally.
The fund has already made 15 investments toward a planned portfolio of 40 companies, including PQ Shield, Cosyne, Isometric, Huspy and Invisible. BY Venture Partners said it also plans to connect international AI startups with the Middle East’s technology ecosystem.
The firm also manages the Lebanese Angel Investor Network, which connects diaspora capital with early-stage Lebanese founders. BY said it will reinvest 50% of its carried interest from the mandate into rebuilding Lebanon’s startup ecosystem.
Source: Wamda
