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- Smpl Fund I invested USD 250K in multiple AI and technology companies within the Qora71 portfolio.
- With this investment, the venture capital fund aims to continue to drive AI innovation and contribute to the growth of the tech ecosystem in MENA and beyond.
- Smpl Fund I is a USD 10 million venture capital fund aiming to focus on supporting AI and tech startups in the MENA region.
Smpl Fund I announced an investment of USD 250 thousand in multiple AI and technology companies within the Qora71 portfolio.
“As second-generation serial entrepreneurs, we understand the unique challenges startups face. Smpl Fund I is not just about providing financial capital – we’re committed to delivering strategic value and accelerating the success of AI companies in the MENA region.”
Mohammad Abu Sheikh, Founding Partner of Smpl Holdings
Smpl Fund I
Smpl Fund I is a USD 10 million venture capital fund launched by Smpl Holdings. The fund aims to focus on supporting AI and tech startups in the MENA region. Moreover, the fund’s proposed strategy is to provide seed capital to aid in the growth of innovative enterprises.
According to the founding partner, the UAE is a suitable location for startups and global talents. This is because of the country’s progressive policies, tax-free environment and advanced infrastructure.
Qora71 is a venture investor syndicate and a member of the Hub71 Angel Program. The syndicate’s portfolio includes over 50 technology companies with a specific focus on AI and emerging technologies. Furthermore,it offers investors an opportunity to invest on a deal-by-deal basis without minimum commitment or fees.
With this investment, Smpl Fund I aims to proceed with its goal to drive AI innovation in the region and contribute to the growth of the tech ecosystem in MENA and beyond.
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