**Dubai**: UAE-based firm Phoenix Venture Partners has successfully closed $50 million in commitments for its innovation fund, PVPIF, aimed at supporting early-stage startups and disruptive technologies across the MENA region, with backing from institutional and high-net-worth investors worldwide.
UAE-based venture capital firm Phoenix Venture Partners (PVP) has officially announced the successful second closing of its Phoenix Venture Partners Innovation Fund CEIC (PVPIF), gathering a total of $50 million in commitments. This development was communicated through a press release on 19 February 2025, outlining PVP’s ongoing commitment to support early-stage startups and innovative technologies across the MENA region.
The fresh influx of capital has come from a diverse array of investors, including institutional investors, family offices, and high-net-worth individuals (HNWI) from countries such as France, Luxembourg, Mauritius, Kuwait, and the Kingdom of Saudi Arabia (KSA). Steve Khayat, the Founder and CEO of Phoenix Venture Partners, expressed enthusiasm regarding the backing of this notable group, stating, “We are thrilled to be supported by such a distinguished group of investors from around the world.” Khayat noted that their commitment is “a testament to the strength of our investment strategy and the potential of the innovative companies we are backing.”
The focus of PVPIF is on early-stage investments in disruptive technologies across several sectors. These include fintech, insurtech, healthtech, edtech, agri-food tech, and energy tech, along with sustainability initiatives, e-logistics and mobility technology, as well as consumer-focused tech innovations. The fund specifically targets the MENA region while maintaining a broader outlook within the G20 economies.
With the capital raised during this second closing, PVPIF is positioned to actively pursue live deals, thereby expanding its portfolio and amplifying its influence within the innovation ecosystem. This strategic growth aligns with Phoenix Venture Partners’ mission to foster innovation and provide substantial value to its investors. The firm looks forward to continuing its collaboration with visionary entrepreneurs and industry leaders in shaping the next generation of disruptive companies.
Source: Noah Wire Services
- https://www.wamda.com/2025/03/phoenix-venture-partners-completes-second-closing-innovation-fund – This article confirms Phoenix Venture Partners’ successful second closing of its innovation fund, highlighting the firm’s focus on early-stage startups in the MENA region.
- https://www.wamda.com/2025/03/phoenix-venture-partners-completes-second-closing-innovation-fund – It also details the diversity of investors, including those from France, Luxembourg, and Saudi Arabia, which supports the claim about the international backing of PVPIF.
- https://mystartupworld.com/phoenix-venture-partners-completes-closing-of-its-innovation-fund/ – This source corroborates the focus of PVPIF on various sectors like fintech, healthtech, and consumer tech, as well as its target market of the MENA region.
- https://www.wamda.com/2025/03/phoenix-venture-partners-completes-second-closing-innovation-fund – The article further explains how the raised capital will enable PVPIF to execute deals and expand its portfolio, aligning with PVP’s mission to foster innovation.
- https://www.cbinsights.com/investor/partners-innovation-fund – Although not directly related to Phoenix Venture Partners, this webpage provides context on innovation funds and their role in supporting early-stage ventures, similar to PVPIF’s goals.
- https://www.wamda.com/2025/03/phoenix-venture-partners-completes-second-closing-innovation-fund – This URL confirms Steve Khayat’s statement regarding the support from a distinguished group of global investors, underscoring the confidence in PVPIF’s investment strategy.
- https://news.google.com/rss/articles/CBMimwFBVV95cUxPMFhEVG9Yb0RKMllkTGFfMmRKdjNaV1g0bGpEYkZTOWRwdXhZcWJTcGw5SkNhaTZTRVJrNWhwUGxUVW1naG9HdU1IdDBjSzh6d1JLdm4zZU81cGdUOWs0T0pCcFFVX1pkLUZaakhud0VmdS1UaS1HMlhycmFBUkNjUjhlVWV3MDRJYmFMTXRzd1lUcDdsYjd6bU1ZOA?oc=5&hl=en-US&gl=US&ceid=US:en – Please view link – unable to able to access data
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
9
Notes:
The narrative references a recent press release from February 2025, indicating it is current and not recycled news.
Quotes check
Score:
8
Notes:
The quote from Steve Khayat seems original, but without further online sources, difficulty verifying it as the first known use.
Source reliability
Score:
7
Notes:
The narrative originates from a press release and lacks specific attribution to a major news outlet, which could increase reliability.
Plausability check
Score:
9
Notes:
The claims regarding the fund and investment strategy are plausible and align with typical venture capital activities.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The narrative appears fresh and plausible, with a clear focus on a recent financial development. However, it lacks direct attribution to a well-known publication, which impacts source reliability.
