Saudi firm Emkan Capital launches VC fund

Saudi Arabian venture capital (VC) firm Emkan Capital has announced the close of its first fund.

The Emkan Capital Fund 1 has pulled in US$31 million in capital commitments for the vehicle, which will focus on tech startups in the Mena region.

According to general partner Ghassan Aloshban, the fund will look to support fintech founders through “mentorship and access to transformational relationships” as well as capital.

The fund launch comes after Emkan Capital participated in a funding round for social investing platform InvestSky.

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