October 2, 2019 (Dubai)
The National has reported that Beco Capital, a Dubai-based venture capital firm, raised $100 million through its second fund, which thanks to investor appetite for start-ups, the fund oversubscribed its initial target by $20 million. The company typically invests in regionally-based early-stage start-ups with seed and Series A funding, and provides follow-on funds for the best-performing companies in its portfolio.
The Fund has received commitments from existing investors including the International Finance Corporation, a development finance arm of the World Bank, and Rimco, and attracted new investors including Warba, Al Waha Venture Capital Fund of Funds, and family offices such as Watar Partners and KAAF.
Read the original article on The National: Venture capital firm Beco raises $100m through second fund