New Fund Targets Palestinian Tech Companies

A venture capital fund targeting technology companies in the Palestinian territories has secured $28.7 million at its first closing and is now evaluating investment opportunities in the Internet, software and mobile sectors in the West Bank.

The Sadara Fund’s acquired resources include €5 million ($7 million) from the European Investment Bank and investments from the U.S.-based multinational company Cisco, Google Foundation and the Skoll Foundation, among others.

The Sadara Fund will be managed by an independent fund management company founded by an expert venture specialist and seasoned technology entrepreneurs. 

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About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.