Middle East Venture Partners (MEVP) announced the launch of the third MENA venture capital fund worth USD 250 mn, Invest-Gate reports.

The fund, in partnership with Emaar Properties’ Chairman Mohamed Alabbar, will invest in IT startups in the MENA region.

It will particularly focus its investments on innovative early-stage and growth-stage tech companies.

Earlier this year, Alabbar acquired a large stake in MEVP and entered a strategic partnership that aims to create one of the leading venture capital investment platforms in the region.