Dubai based Greenstone Equity Partners is collaborating with Europe based iTech Capital.
Greenstone claims to be one of the largest independent fund placement firms in the Middle East and iTech Capital is a venture capital firm focused on growth investments in digital economy businesses.
iTech are currently raising money for iTech Fund II. This is a $200m fund that will invest in core ICT segments such as FinTech, AdTech, SAAS, online travel and Big Data.
iTech Fund I, which started life in 2011, is a $100m fund and has a projected Gross IRR of 35%, and has generated a DPI of 10% says the company.
President of Greenstone Equity Partners Omar Al-Gharabally said: “We are delighted to collaborate with iTech due to their robust reputation in delivering remarkable results for their investors. iTech’s team of investment professionals are thorough and knowledgeable, with over 50 years of cumulative investment experience and are passionate about creating success. Owing to the Middle Eastern investor mentality, venture capital investment has become more and more mainstream over the last decade and with this relationship we are confident that we are introducing solid investment opportunities to investors across the region.
Managing Partner of iTech Gleb Davidyuk said: “The MENA region has important sources of capital flows and wealth accumulation, and with increased liquidity, local and international investors consider venture capital and all of its sub-sets to be a core part of their investment portfolios. With Greenstone Equity Partners’ thorough market knowledge and strong relationships, we believe that we can establish a strong footprint in this region and develop new long-term relationships.”