Emkan Capital, a Riyadh, Saudi Arabia-based venture capital firm focused on early-stage technology start-ups across GCC and broader MENAP, announced the close of its inaugural fund, at $31m.
Emkan Capital Fund I received support from institutions and businesses across the world, including Silicon Valley based partners.
ECP I will make strategic investments in pre-seed and seed-stage companies with high-growth potential in key technology subsectors. This will include business models including fintech, e-commerce, and logistics, as well as spanning frontier sectors such as AI, cyber, cloud and health tech across the MENA region.
Led by Ghassan Aloshban, General Partner, Emkan Capital has a team consisting of a team of seasoned investors and entrepreneurs collectively bringing nearly 50 years of experience in investing in businesses and working with founders across KSA, UAE, the US, and Asia. The firm’s current portfolio includes InvestSky, NovoGenomics, FENIX, Trukkin, Mojo, Awaed, and Hubpay.