Azimut to launch VC tech fund for Mena start-ups

StartupItalian asset manager Azimut is set to launch a venture capital (VC) fund focused on Mena-based B2B technology start-ups before the end of the year. The Azimut Digitech Fund will be run in partnership with Gellify, an investment advisory firm focused on B2B tech. The first co-investment involves a UAE-based start-up and employee engagement platform, Workfam. "This transaction marks the acceleration of Azimut's private markets investment in the GCC,” said Giorgio Medda, Azimut group co-chief executive and global head of asset management. “We have big plans to scale this effort up with a brand new fund, domiciled in the Abu Dhabi Global Market, focusing exclusively on B2B tech start-ups rooted and developed out of the UAE and the wider region,” added Medda. ©2021 funds global mena

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