Beltone Holding, a rapidly growing financial institution, has announced that its subsidiary, Beltone Venture Capital (BVC), inked a partnership deal with CI Venture Capital, a subsidiary of Citadel International Holdings based in Abu Dhabi, Invest-Gate reports.

The agreement aims to oversee a $30 mn fund to support fast-growing startup expansion.

Over the past few months, the Fund has already begun deployment, securing deals with several prominent startups across various regional sectors and countries. Among these are Bosta, Trella, Qlub, and ariika.

For his part, Fady Dahlan, Managing Partner of CI Venture Capital, expressed enthusiasm about the partnership, stating, “We are proud and excited to partner with Beltone Venture Capital to support the growth of high-potential technology companies. Our investment will contribute to developing the early-stage innovation ecosystem in the MENA region.”

Moreover, Ali Mokhtar, CEO of Beltone Venture Capital, highlighted the Fund as a continuation of its strategic approach since the inception of BVC in 2023. Mokhtar emphasized their commitment to acting as partners to founders and being value-driven investors, aiding startups in scaling up and realizing their full potential. He also outlined their aim to broaden their regional footprint, focusing on high-margin sectors poised for exponential growth where technology can play a pivotal role.

Mokhtar further explained, “The Fund will primarily target pre-seed and seed funding rounds and will continue supporting top-performing portfolio companies in subsequent rounds. Additionally, it may explore investing in attractive opportunities across different funding stages.”