Beltone partners with Citadel Holdings to manage $30 million VC fund

Beltone Holding, a rapidly growing financial institution, has announced a new partnership through its subsidiary, Beltone Venture Capital (BVC), with CI Venture Capital, a part of Citadel International Holdings. Together, they will manage a $30 million fund aimed at supporting promising startups. The fund, already active, has invested in several regional startups including Bosta, Trella, Qlub, and ariika.

Fady Dahlan of CI Venture Capital expressed enthusiasm about the collaboration, emphasizing its potential to boost the early-stage technology landscape in the MENA region. Ali Mokhtar, CEO of Beltone Venture Capital, noted that the fund will focus on technology-driven sectors with high growth potential, investing in various stages of startup development.