Smpl Fund I, a USD 10 million venture capital fund, has announced a USD 250K investment in multiple AI and technology companies within the Qora71 portfolio. The investment is part of Smpl Fund I’s strategy to foster AI innovation and support the growth of tech startups in the MENA region and beyond.
The fund, launched by Smpl Holdings, focuses on providing seed capital and strategic support to emerging tech enterprises in the MENA region. Mohammad Abu Sheikh, Founding Partner of Smpl Holdings, highlighted the unique challenges startups face, emphasizing the fund’s commitment to delivering not just financial capital but also strategic value.
Smpl Fund I believes the UAE offers an ideal environment for global talent and startups due to its progressive policies, tax-free environment, and advanced infrastructure. Qora71, a venture investor syndicate, focuses on AI and emerging technologies and offers investors a flexible investment model with no minimum commitment or fees.
This investment furthers Smpl Fund I’s mission to accelerate AI innovation and contribute to the growth of the tech ecosystem across MENA.
