Dubai-based Alcazar Capital Limited (ACL) and Fintech Consortium’s investment arm, InQvest Partners (IQP) have partnered to launch a $100m global fintech fund.
ACL is anchoring the fund – which will invest in North America, Europe, Asia and the GCC – with 10% of the total capital.
The firm, which has a history of investing in the tech and telecoms sectors, has put its head of North American operations, Maissan Almaskati, in charge of its move into fintech.
The companies said in a joint statement that the fund partnership will allow IQP to combine its expertise, knowledge and network in fintech with ACL’s investment experience and track record to jointly build a successful dedicated fintech venture capital fund.
“InQvest Partners offers a unique FinTech proposition to support its investments across markets. We look forward to working with them in supporting ambitious entrepreneurs during the early stages of their growth journey,” Charbel Abou-Jaoude, chief executive of Alcazar, said.
Gerben Visser, founder of Fintech Consortium and managing partner of IQP, added: “Alcazar Capital Limited has a proven investment track record and we are excited to leverage their investment and fund capabilities to build a successful global fund and fintech portfolio together.”
ACL recently merged with Trucial Investment Partners and appointed Maissan Almaskati as managing partner and head of its North American platform, based in the United States, and who will now also lead its expansion into fintech investment.