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Oryx Fund is a venture capital fund established in 2017, focusing on early-stage equity investments in technology companies across the Middle East and North Africa (MENA). Originally launched under Hambro Perks, the fund is now managed by Salica Investments. Oryx Fund has a total fund size of $50 million and is backed by significant Gulf sovereign and government-linked capital, including investments from Saudi Arabia's Jada Fund of Funds, Mubadala in the UAE, and state-owned investors in Oman and Jordan.
With offices located in Dubai, Abu Dhabi, Riyadh, and Muscat, Oryx Fund is strategically positioned to tap into the burgeoning startup ecosystem in the MENA region. The fund aims to support exceptional entrepreneurs and innovative startups that are pivotal to the region's modernization efforts. Notable milestones include the first close announced in February 2021, which marked a significant step in establishing Oryx Fund as a key player in the MENA venture capital landscape.
Oryx Fund primarily invests in pre-seed and seed stage technology companies within the MENA region. The fund emphasizes sectors where the team possesses deep operational expertise, including FinTech, HealthTech, Enterprise Tech, EdTech, and Logistics. This focus on high-growth sectors aligns with Oryx Fund's investment thesis, which seeks to back game-changing technology companies led by exceptional entrepreneurs.
The fund's investment strategy is designed to drive economic development in the region by fostering innovation. Oryx Fund looks for startups that demonstrate strong potential for growth and scalability, particularly those that address pressing challenges in their respective sectors. The team values founders who possess a clear vision and the capability to execute their business plans effectively.
Oryx Fund has built a diverse portfolio of technology companies that reflect its investment focus. Notable portfolio companies include:
This portfolio showcases Oryx Fund's commitment to investing in companies that are not only technologically advanced but also contribute to the modernization and economic growth of the MENA region.
Dominic Perks - Co-Founder and CEO of Hambro Perks, he played a pivotal role in the origination of Oryx Fund. His extensive experience in venture capital and startup ecosystems positions him as a key leader in the fund.
Ali Qaiser - Managing Director at Oryx Fund, he brings a wealth of experience in investment management and strategic development, focusing on identifying high-potential startups in the MENA region.
Ivo Detelinov - A member of the investment team, Ivo previously served as a Senior Portfolio Manager at Riyadh Taqnia VC Fund. His expertise in evaluating technology investments contributes to Oryx Fund's strategic decision-making.
To pitch Oryx Fund, founders are encouraged to reach out through industry connections for a warm introduction. A well-prepared pitch deck should include key information about the business model, market opportunity, and growth strategy. While specific application forms are not mentioned, a concise and compelling presentation is essential.
Response times may vary, but founders should expect a thorough review process. Engaging with the fund's team early in the process can help align expectations and increase the likelihood of a successful pitch.
In 2024, Oryx Fund co-led a $37 million Series A round for 44.01, a climate tech company specializing in direct air capture and mineralization. This investment highlights Oryx Fund's commitment to supporting innovative solutions in high-growth sectors.
Salica Investments, the managing entity of Oryx Fund, has been recognized as a top-performing VC fund in the UK and Ireland, further establishing its reputation in the venture capital landscape.
What are Oryx Fund's investment criteria?
Oryx Fund focuses on early-stage technology companies in the MENA region, specifically targeting pre-seed and seed stages. The fund emphasizes sectors such as FinTech, HealthTech, EdTech, and Logistics, where the team has significant operational expertise.
How can I pitch to Oryx Fund?
Founders interested in pitching to Oryx Fund should prepare a detailed pitch deck that outlines their business model, market opportunity, and growth strategy. While specific application forms are not mentioned, a warm introduction through industry connections is often beneficial.
What makes Oryx Fund different from other VCs?
Oryx Fund distinguishes itself by its strong backing from Gulf sovereign and government-linked capital, providing a robust financial foundation for its investments. The fund also offers extensive operational support and mentorship to its portfolio companies, enhancing their growth potential.
What is the geographic scope of Oryx Fund's investments?
The fund primarily invests in the Middle East and North Africa (MENA) region, focusing on technology companies that are positioned to drive regional modernization.
What is the typical check size for investments?
While specific check sizes are not disclosed, Oryx Fund invests in early-stage companies, typically providing funding that aligns with pre-seed and seed stage requirements.
How involved is Oryx Fund post-investment?
Oryx Fund is committed to adding value to its portfolio companies through mentorship, resources, and access to a broad base of investors. The team actively engages with founders to support their growth and operational needs.
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