Dubai-based VC firm BECO Capital Raises $10 Million from IFC
Dubai based venture capital firm BECO Capital has reportedly raised an amount of $10 million for its second fund from the popular International Finance Corporation (IFC) which is a member of World Bank Group.
This investment is basically a part of an effort to support technology start-ups and drive innovation across the Middle East and North Africa. According to the reports, this particular fund is being anticipated to reach up to $100 million. If BECO does close the fund with $100, it would be one of the largest in the region.
“Our vision at BECO is to improve the region through technology entrepreneurship and innovation,” said Dany Farha, the Managing Partner of BECO Capital. “With IFC as a partner, we will have the firepower to continue fueling and igniting liftoff for MENA’s disrup...