Venture capital firm 247VC is near to securing the initial closure of its debut fund, as it courts significant Limited Partners (LPs) for investment.
Saudi Arabia-based venture capital firm, 247VC, has recently announced the first close of its maiden fund. The fund, focused on early-stage technology startups across the MENA region, has secured $15 million so far.
The firm is reportedly in discussions with a key institutional investor to become a limited partner. The identity of this investor has not been disclosed yet, but their involvement is expected to aid 247VC in raising additional capital in subsequent closes.
Founded by Yagnesh Sanghrajka and Shashank Randev, 247VC is an early-stage venture capital firm. However, details about the investment strategy of 247VC were not provided in the latest announcement.
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For more specifics or future updates, it's recommended to keep an eye on official announcements from 247VC or regional venture capital news outlets.
The investment strategy of 247VC, a Saudi Arabia-based venture capital firm, remains Undisclosed. With the aim to raise additional capital, 247VC is in discussions with a key institutional investor, potentially partnering in the finance sector to bolster the firm's financial resources.
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