Access Bridge Ventures launches with first close of $25M fund
Access Bridge Ventures (ABV), a regionally-focused early-stage venture capital fund, has launched and made its first close.
The fund, which will target a final commitment of $25M has garnered commitments from leading regional institutional investors, including Mubadala Capital, Saudi Venture Capital Company (SVC), Jada, and several prominent family offices.
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ABV will support high-growth tech startups from Saudi Arabia, UAE, Egypt, Pakistan, and the wider MENA region. Working with startups in the early stages of their development, ABV will help build regional and international champions across numerous sectors, including healthtech, edtech, fintech, enterprise-tech, and Software as a Service (SaaS).
Established earlier this year, ABV’s accomplished team is led by Issa Aghabi and Rakan AlRashed, who bring 25 years of experience in investing and exiting tech companies in the MENA region and beyond. Prior to ABV, Issa headed the venture capital activities of the International Finance Corporation (IFC) in MENA and Pakistan. Meanwhile, Rakan was part of a leading Saudi investment firm that focused on SMEs and startups.
CedarBridge Capital Partners (CedarBridge), a middle-market private equity firm, has co-founded the fund as part of its mandate to partner with promising founders and management teams, help them expand their investment remit, and achieve exceptional growth.
Issa Aghabi, Co-Founder and Managing Partner commented on the launch, “The MENA landscape has transformed over the past few years, with entrepreneurs and startups acting as a catalyst for economic growth and development. ABV has the unique ability to identify and cultivate this new breed of tech companies, many of which are extraordinary in their own right, and help them realise their full potential. Securing our first close reflects the confidence in ABV’s capabilities and investment strategy, where we lead the round and support our founders throughout their journey, as early as a first institutional investor.”
Magellan Makhlouf, Co-founder and Managing Director of CedarBridge added, “CedarBridge is proud to have co-founded ABV and we look forward to enhancing their offering with our vast global network and deep sectorial expertise. With our collective experience, ABV is well-positioned to make a meaningful impact and contribute to the growth of the region’s burgeoning tech industry.”
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