Palm Ventures fueling innovation across AI, Fintech & Business Solutions
Palm Ventures has announced the closure of a $30 million investment fund, targeting early-stage startups across the Middle East and North Africa (MENA). The fund will primarily focus on artificial intelligence (AI), fintech, and business solutions—three rapidly expanding sectors that are driving digital transformation in the region.
Since its inception in 2014, the venture capital firm has played a pivotal role in fostering entrepreneurship, backing over 40 startups and investing in 20 companies between 2020 and 2024. This latest fund marks a significant step in its commitment to empowering innovative businesses.
Palm Ventures is expanding Global Reach with AI Investments
While the core focus remains on MENA startups, a portion of the fund will also focus on US-based AI companies, highlighting the company’s global investment approach. By bridging regional startups with cutting-edge AI advancements, the firm aims to drive innovation, competitiveness, and international collaboration.
Strategic Support Beyond Capital
Startups that secure funding will not only receive financial backing but also strategic mentorship, operational guidance, and networking opportunities. Palm Ventures has a strong track record of collaborating with government entities. Additionally, its partnerships with private sector partners help support tech-driven economic growth in the region. Both types of collaborations public and private ensure that the company is well diversified.
Looking Ahead – A Thriving Startup Ecosystem
As MENA’s startup ecosystem continues to expand, Palm Ventures sees huge potential in nurturing early-stage companies. The firm is focused on:
- Strengthening the AI ecosystem with cross-border investments
- Connecting MENA startups with global markets
- Accelerating fintech adoption to drive financial inclusion
- Enhancing business solutions for digital transformation
By fostering innovation and strategic partnerships, Palm Ventures aims to make a long-term impact on the region’s technology landscape, aligning with government efforts to position MENA as a global tech hub.
