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Hambro Perks, a UK-based global investment firm, announced late last month the launch and initial close of a new VC firm worth $50 million. Dubbed Oryx, this new fund will be based in Abu Dhabi and it will almost exclusively focus on early-stage startups in the MENA region. 

More specifically, it will target promising early-stage startups dealing in the FinTech, EdTech, and HealthTech sectors.

Several regional and international investors have reportedly already committed to Oryx Fund, including heavyweights like the Jada Fund of Funds, Riyadh Valley Company, Saudi Venture Capital Company (SVC), as well as many other prominent family offices.

Oryx Fund will be led by thee General Partners – Dominic Perks, co-founder and CEO of Hambro Perks; Ali Qaiser, managing director of Hambro Perks, and Ivo Detelinov. It is worth noting here that Ivo joined Oryx after switching from the $150 million Riyad Tanqia Fund (RTF).

Speaking on the occasion, the Hambro Perks CEO said: “We are delighted to be launching the Oryx Fund; there is a wealth of talented entrepreneurs developing innovative businesses and we are excited about partnering with them to help them develop their ideas and scale their companies. We are honored to have received backing from renowned investors such as Jada Fund of Funds and SVC, and we share their belief in the potential for technology startups in the region.”