VentureSouq, a GCC-based venture capital firm, has closed its second Fintech Fund (Fintech Fund II).
The fund is supported by a group of limited partners, including Jada Fund of Funds, Saudi Venture Capital Company (SVC), Saudi Awwal Bank (SAB), Mubadala Investment Company, Takamol Holding, Krafton, and the Innovative Startups and SMEs Fund (ISSF) of Jordan.
Fintech Fund II will focus on early-stage investments in fintech and adjacent SaaS companies across the MENA region, targeting areas such as payments infrastructure, alternative credit, digital banking, proptech, insurtech, and personal financial management.
Suneel Gokhale, General Partner at VentureSouq, said:
“Since launching our first sector-specific Fintech fund in 2021, we’ve seen significant traction across markets. We’re still early in this journey, but the foundations are now in place. We’re also seeing Fintech as a principal entry point for AI in the region, the impact of which is still ahead of us. This new fund allows us to maintain momentum with support from partners who understand the regulatory and market dynamics critical to scaling ventures here.”
VentureSouq has previously backed high-growth startups including Tabby, Huspy, Yassir, Salla, and Mozn.
Since its first Fintech fund, VentureSouq has invested in over 40 early-stage startups across the UAE, Saudi Arabia, Egypt, Jordan, and Pakistan, many of which have raised follow-on rounds and expanded internationally.
The firm offers regulatory insight, operational support, and a hands-on approach, connecting public and private capital to drive innovation across the region.
Featured image credit: VentureSouq
