Already boasting presence in the region via Riyadh, SIP Global Partners’ $75 million fund aims to utilise the growing number of opportunities across the MENA ecosystem.
Venture capital firm, SIP Global Partners, has announced the close of a $75 million debut fund as part of its mission to help US startups expand into the MENA region, as well as Asia.
Founded by Founded by Matthew Salloway, Shiheki Sairoh and Justin Tarkat, the firm boasts presence in n Riyadh, Tokyo, New York and Boston, and has built up a portfolio of companies that focus on Creativity, Productivity and Safety, including such startups as Fable (a web-based design tool), Tilt Five (an AR gaming company), and KINETIC (an 'Internet of Things' tech startup looking to improve workplace safety). SIP Global Partners is one of the few companies licensed by the Ministry of Investment in Saudi Arabia to bring their portfolio into the region through their venture initiative.
“We’re excited about opportunities for US startup companies in MENA with the region’s commitment to world-class connected infrastructure and non-oil diversification," Co-founder and Managing Partner of SIP Global Partners Matthew Salloway said. "At the same time, we are watching the ecosystem in MENA grow considerably and hope our platform/technologists/cross-border team, locally and abroad, can also contribute to growth locally and be a trusted partner in the region."
Learn more about SIP Global Partners here.