UAE-based venture studio, Enhance Ventures has raised $30 million for its Builders Fund to invest in tech startups in the Middle East region.
- The fund will be used to create 5,000 high-tech jobs, produce 500 business leaders, train 50 capable business leaders, and be the institutional co-founder of at least 5 major exits in the region in the next 5-10 years, the venture claims.
- The studio venture fund will focus on startups in web3, open banking, cashless payments, SME finance, and B2B opportunities (the future of finance and commerce).
- Launched in 2016, Enhance Ventures focuses on building innovative digital businesses in the Middle East, North Africa, Pakistan, and Turkey (MENAPT), with major investment interests in Saudi Arabia, UAE, and the GCC.
- Enhance's portfolio includes Joi Gifts, an online gifting marketplace, Right Farm, a B2B agritech startup, Clevr, a consumer-facing and reward platform, and Blue Terra, a conscious-commerce marketplace among others.