Tri Ri Asset Management, a New York-based asset manager, closed a venture capital fund, at $142M.
The close of TRAM Venture Fund saw participation from two pension funds, a sovereign wealth fund, and Scandinavian & Swiss based family offices. The anchor investment was drawn from TRAM Impact Fund I.
The fund, focused on MENA with a particular interest in Pakistan, plans to invest in startups, with valuations ranging from $10M to $100M. It will be participating in seed stage along with Series A and Series B funding rounds (typically in the range of $5M to $10M) of startups in sectors such as consumer tech, enterprise software, fintech, and healthtech.
Beyond investments, the fund will also assist its portfolio companies in expanding their global outreach and strengthening their presence in the MENA region, where the founders have already established a network through partnerships and investments.
The vehicle is led by Asad Ali, Chief Investment Officer at TRAM.
Tri Ri Asset Management, is a research-intensive, fundamental value investor in the public markets. Since 2019, the firm has executed a disciplined growth strategy, building a balanced portfolio of public market and real estate holdings. As of March 2023, Tri Ri’s portfolio composed of USD 850 million in assets under management along with USD 1.2 billion in Co-investments and 7 renowned properties with over 1500 rooms.
FinSMEs
28/08/2023