Palestine's Ibtikar Fund Closes Second Fund at $25m to Back Early-Stage Founders
Ibtikar Fund closed its second fund at $25m, above a $15m target and double the size of its first vehicle, to invest in up to 25 early-stage startups founded by Palestinian entrepreneurs.
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Ibtikar Fund said it had reached the final close of its second fund at $25m, above an initial $15m target and twice the size of its maiden vehicle. Backers included a $3m allocation from the European Bank for Reconstruction and Development.
Managed by partners Ambar Amleh and Habib Hazzan, Fund II plans to invest in up to 25 early-stage, tech-driven companies founded by Palestinian entrepreneurs, with a focus on sectors such as artificial intelligence, e-commerce and fintech.