Access Bridge Ventures marks first closing of its $25m MENA venture capital fund
Published 10 Jan,2021 via The Jordan Times AMMAN — Access Bridge Ventures (ABV), a newly launched regionally focused early-stage venture capital fund, has made a first close.
The fund, which will target a final commitment of over $25 million, garnered commitments from leading regional institutional investors, including Mubadala Capital, the financial investment arm of Mubadala Investment Company, Saudi Venture Capital Company, Jada, and several prominent family offices, each of whom will gain access to some of the region’s most transformative, home-grown tech companies, according to an ABV statement.
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, the statement said.
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The Jordan Times