Phoenix Venture Partners reaches third close of debut fund
- UAE-based VC firm Phoenix Venture Partners (PVP) has completed the third closing of its inaugural fund (PVPIF), attracting investors from the US, France, Saudi Arabia, Kuwait, and the UAE, including institutions, family offices, and high-net-worth individuals.
- The fund focuses on early-stage, innovation-driven startups across sectors including fintech, healthtech, edtech, mobility, agrifood, energy, and consumer technology, with a MENA focus and global outlook.
- PVP continues to deploy capital to scalable, high-growth companies, while keeping the fund open for additional commitments ahead of its planned final close in October 2026.
- The company concluded the second close of its $50 million fund in March last year.
Press release:
Phoenix Venture Partners Limited ("PVP") announced today the successful third closing of its inaugural fund, Phoenix Venture Partners Innovation Fund CEIC Limited ("PVPIF"), effective 13 March 2026. The closing brings new investors from the United States, France, Saudi Arabia, Kuwait, and the United Arab Emirates, reflecting a diverse group of institutional investors, single-family offices, and high-net-worth individuals. This milestone further broadens PVP’s global network and highlights the growing interest in innovation‑led opportunities across the GCC and MENA region.
Commenting on the announcement, Steve Khayat, Founder & CEO of PVP, said: “The timing of our closing is a testament not only to PVP’s commitment to the GCC region and the MENA as a whole, but also to that of our esteemed investors. Despite ongoing regional sensitivities that continue to influence global markets, our collective confidence reaffirms the resilience of the GCC’s venture capital landscape and the region’s broader financial ecosystem. Now more than ever, we reaffirm our commitment, with a steady hand and a firm vision, to our investors, to the founders we invest in, and to the wider ecosystem in the Abu Dhabi Global Market (ADGM), as well as across the GCC and MENA’s venture community.”
PVP continues to deploy capital from PVPIF into high‑potential, innovation‑driven companies across the region, with a focus on scalable technologies and globally relevant solutions. The fund remains open to additional capital commitments ahead of its planned final close in October 2026, strengthening PVP’s role in supporting the region’s next generation of standout founders and contributing to the continued maturation of the GCC’s venture ecosystem.
