Dubai-based Alcazar Capital Limited (ACL) and Fintech Consortium’s investment arm, InQvest Partners (IQP) have partnered to launch a $100 million global fintech fund.
Alcazar, an investment firm based in the Dubai International Financial Centre, said in a statement that it has also committed to anchor the fund with 10 percent of total capital.
The statement said the fund partnership will allow IQP to combine its expertise, knowledge and network in FinTech with ACL’s investment experience and track record to jointly build a successful dedicated Fintech venture capital fund.
Charbel Abou-Jaoude, CEO of Alcazar, said: “InQvest Partners offers a unique FinTech proposition to support its investments across markets. We look forward to working with them in supporting ambitious entrepreneurs during the early stages of their growth journey.”
Gerben Visser, founder of Fintech Consortium and managing partner of IQP, said: “Alcazar Capital Limited has a proven investment track record and we are excited to leverage their investment and fund capabilities to build a successful global fund and fintech portfolio together.”