Wednesday, April 24, 2024
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COTU Ventures launches $54 Million Fund

Dubai-based COTU Ventures, stands for Champions Of The Underdog has raised $54 million for inaugural fund to support Middle East and North Africa (MENA) region’s startups. COTU Ventures on a mission to transform the culture of venture capital in the Middle East by setting the standard for others to follow.

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The fresh fund is sector-neutral and focuses on finding and helping the most innovative and creative entrepreneurs from the beginning of their concept to the product launch. The fund has invested in more than 20 early-stage businesses to date, including MoneyHash, an Egyptian FinTech startup, Supy, a ResTech platform based in the UAE, Peak XV, Founders Fund, and Fifth Wall-backed Huspy, the largest mortgage platform in the UAE, and Sirdab, a top storage and warehouse management system in Saudi Arabia.

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“I’ve been a part of the regional ecosystem since 2008, and it’s come a long way since then,” said Amir Farha, founder and GP of COTU Ventures. “Saudi Arabia has opened up internationally, and governments have been driving policies and investment to activate the technology sectors of their local economies. We have a young and growing population of tech-savvy, digitally connected consumers with substantial spending power. When you combine all of this with remarkably low customer acquisition costs and some of the highest revenues per user, there has never been a better and more profitable time to invest in the region than today.”

“Our partnership with COTU Ventures has been a cornerstone of Sirdab’s journey,” said Naif Alzahri, co-founder of Sirdab. “Amir and the entire COTU team have contributed a wide array of expertise that has significantly enhanced our strategic, technical, and operational frameworks. Their unique approach to collaboration is rare to find, and it has cultivated an environment where one feels comfortable sharing insights and challenges that are typically only discussed within the confines of a founding team. This foundation of trust and mutual understanding not only highlights the extraordinary nature of our relationship with COTU but also makes us eternally grateful for their support.”

About COTU Ventures

Founded in 2020 by Amir Farha, COTU Ventures works with amazing entrepreneurs from the start, guiding their businesses from Pre-Seed and Seed to Series A and beyond, speeding up their route to product-market fit and making sure they have access to the necessary resources and know-how along the way. 

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