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Pelion Venture Partners, a leading US early-stage venture capital firm, has signed an exclusive distribution agreement with Greenstone Equity Partners, the largest financing firm in the Middle East. This is to broaden Pelion’s GCC investor base as it raises capital for two funds, Pelion Ventures VIII and Pelion Olympus Fund I.
Since its inception, Pelion Venture Partners has successfully invested $1.1 billion in more than 100 early-stage technology and software startups, including more than 10 unicorns. Now it is returning to the GCC market with an exclusive partnership with Greenstone for its VIII Vintage Fund, and co-investment vehicle Olympus.
Blake Modersitzki, General Partner at Pelion Venture Partners, said: “Our partnership with Greenstone has been very successful, with our previous fund exceeding our initial funding goal. GCC institutional investor interested in artificial intelligence, fintech, machine learning and networking The need for safety continues to grow and we are pleased to continue building momentum in the region with Greenstone.”
Pelion Ventures VIII seeks to invest in early-stage, seed-stage to Series A companies disrupting their respective industries, with a focus on artificial intelligence, machine learning, fintech and cybersecurity.
co-investment vehicle
Pelion Olympus Fund is a co-investment vehicle that invests primarily in late-stage technology companies.
Omar Al Gharabally, Greenstone’s Chief Investment Officer, said: “We are delighted to support Pelion, who have partnered with us for over seven years, to bring their technology and innovation-focused funds to the market in the region. Typically, GCC investors are keen to find financial technology and web-centric investment opportunities.” — trade arab news agency
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