Access Bridge Ventures creates $25m fund to support MENA startups

• ABV to help build regional and international champions across numerous sectors, including health-tech, edu-tech, fin-tech, enterprise-tech and Software as a Service.
• Fund aims to fill the financing gap for micro, small and medium enterprises which is estimated to be as much as $240b.

Access Bridge Ventures (ABV), a newly launched early-stage venture capital fund, has made a first close of $25 million to support high-growth tech start-ups from Saudi Arabia, UAE, Egypt, Pakistan and the wider MENA region.

The venture capital fund, based in Abu Dhabi and regulated by the Abu Dhabi Global Market, has garnered commitments from leading regional institutional investors, including Mubadala Capital, the financial investment arm of Mubadala Investment Company, Saudi Venture Capital Company (SVC), Jada, and several prominent family offices.

Issa Aghabi, Co-Founder and Managing Partner of ABV, said that the MENA landscape has transformed over the past few years, with entrepreneurs and start-ups acting as a catalyst for economic growth and development.

ABV has the unique ability to identify and cultivate this new breed of tech companies, many of which are extraordinary in their own right, and help them realise their full potential.

Investment strategy

“Securing our first close reflects the confidence in ABV’s capabilities and investment strategy, where we lead the round and support our founders throughout their journey, as early as a first institutional investor,” he said.

The International Monetary Fund estimates that micro, small and medium enterprises (MSMEs) represent about 96 per cent of registered companies and about half of all employment in the Middle East and North Africa (MENA) region.

Despite this, the total financing gap for MSMEs is estimated to be as much as $240 billion, according to the International Finance Corporation.

ABV will help build regional and international champions across numerous sectors, including health-tech, edu-tech, fin-tech, enterprise-tech and Software as a Service (SaaS).

CedarBridge Capital Partners (CedarBridge), a leading middle-market private equity firm, has co-founded the fund as part of its mandate to partner with promising founders and management teams and help them expand their investment remit and achieve exceptional growth.

Magellan Makhlouf, Co-founder and Managing Director of CedarBridge, said that they are proud to have co-founded ABV and we look forward to enhancing their offering with its vast global network and deep sectoral expertise.

“With our collective experience, ABV is well-positioned to make a meaningful impact and contribute to the growth of the region’s burgeoning tech industry,” he said.