Discover top fintech news and events!
Subscribe to FinTech Weekly's newsletter
Read by executives at JP Morgan, Coinbase, Blackrock, Klarna and more
A New Chapter for VentureSouq
VentureSouq, a GCC-based venture capital firm, has announced the closure of its second FinTech Fund (FinTech Fund II), strengthening its role as a prominent early-stage investor in the Middle East and North Africa. The firm confirmed that the new fund has attracted backing from some of the most influential institutions in the region, reinforcing confidence in the growth prospects of financial technology across MENA.
Backed by Leading Regional Investors
The fund drew support from a diverse group of limited partners. Among them are Jada Fund of Funds, owned by Saudi Arabia’s Public Investment Fund (PIF), Saudi Venture Capital Company (SVC), Saudi Awwal Bank (SAB), Mubadala Investment Company, Takamol Holding, Krafton, and Jordan’s Innovative Startups and SMEs Fund (ISSF).
This broad base of institutional participation underscores the strategic importance of fintech investment in the region. By securing commitments from such heavyweight partners, VentureSouq has positioned FinTech Fund II as a significant source of early-stage capital.
Focus on Fintech and SaaS Startups
The newly launched fund will concentrate on early-stage investments in financial technology and adjacent SaaS companies. VentureSouq has highlighted several priority sectors, including payments infrastructure, alternative credit, digital banking, PropTech, InsurTech, and personal financial management.
These areas reflect some of the most pressing needs and fastest-growing segments in MENA’s evolving digital economy. By targeting them, the fund aims to identify startups with scalable business models capable of addressing regional challenges in finance and technology.
Building on the First Fund’s Track Record
VentureSouq is not new to the fintech investment arena. Through its first FinTech Fund, the firm supported more than 40 early-stage companies across the UAE, Saudi Arabia, Egypt, Jordan, and Pakistan. That portfolio provided a foundation for growth while offering insights into regulatory and market conditions unique to the region.
With the launch of Fund II, the firm intends to build on those lessons and accelerate its impact. According to VentureSouq’s leadership, the strategic mix of limited partners will bring not only capital but also market knowledge and operational support to portfolio companies.
Investor Confidence in MENA’s Fintech Potential
Stakeholders who participated in the fund stressed their belief in the long-term prospects of the fintech sector. Executives at Saudi Awwal Bank pointed to the transformative potential of digital finance in MENA and expressed confidence that this new wave of investment will help establish enduring foundations for growth.
Similarly, VentureSouq’s general partners emphasized that the strong backing demonstrates a shared understanding of the regulatory and market factors that are vital to scaling startups across the region. The fund’s structure, they noted, reflects an alignment between investors and entrepreneurs that is essential for sustainable expansion.
Strategic Importance for the Region
The launch of FinTech Fund II comes at a time when regional governments and financial institutions are working to promote innovation and diversify their economies. Access to capital remains a key challenge for many early-stage businesses, and funds such as VentureSouq’s can provide the resources needed to bridge that gap.
By concentrating on sectors such as payments and digital banking, the fund aims to support companies that can drive financial inclusion, modernize infrastructure, and create new opportunities for consumers and businesses alike.
The Road Ahead
As VentureSouq deploys capital from FinTech Fund II, industry observers will be watching closely to see which companies join its portfolio. The firm’s experience from its first fund suggests it will prioritize startups with strong fundamentals, scalable models, and the ability to operate effectively across multiple markets.
For MENA’s fintech ecosystem, the closure of this fund represents not only a fresh source of financial support but also a signal that investor confidence remains strong despite global uncertainties.
With one of the region’s most experienced venture capital teams at the helm, FinTech Fund II is set to play a significant role in shaping the future of financial technology and related SaaS solutions across the Middle East and North Africa.
