Founded in 2015, Phoenician Funds, part of More Capital Group, is at the heart of thriving capitals of digital innovation and startup ecosystems in the Middle East and North Africa Region. We are seasoned advisors, devoted problem solvers and serial entrepreneurs, who share a passion for technology and proactively seek opportunities in sectors that are ripe for disruption. Our team actively supports founders to co-shape successful ventures in the early stages of investment, and create value across the investment life-cycle. We provide strategic guidance, market access and insights, linkages to proprietary networks as well as proven execution capabilities to drive long-term success of our portfolio companies. The team launched Phoenician Fund I (“PF I”) in 2016, which primarily focuses on seed and early-stage companies operating in Fintech and other attractive sectors in MENA.
In 2020, the team expanded its activities to the UAE by incorporating Phoenician Invest Ltd. (PIL). PIL was granted a license to conduct the Regulated Activity of “Managing a Collective Investment Fund (Venture Capital Fund Manager)” by Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA). PIL is launching “Phoenician Fund II” (PFII), a VC fund domiciled in ADGM with a mandate to invest primarily in early-stage Fintech Startups.