Ibtikar Fund II Reaches Final Closing at USD 25 Million, Welcomes the EBRD as a Limited Partner
Ramallah-(BNEWS)- Ibtikar Fund has officially closed its second venture capital fund, Ibtikar Fund II CV, at USD 25 million, marking a key milestone in its mission to drive economic growth through investment in Palestinian tech startups.
The European Bank for Reconstruction and Development (EBRD) has joined as a Limited Partner, representing its first equity investment in a venture capital fund in the West Bank.
Ibtikar Fund II aims to invest in up to 25 early-stage tech-driven companies, focusing on sectors such as artificial intelligence, e-commerce, and fintech. With a portfolio centered on scalable businesses, the fund is enabling Palestinian startups to expand regionally and globally, addressing a critical need for early-stage capital in the region.
The addition of the EBRD underscores the growing recognition of Palestine's entrepreneurial potential.
The bank’s USD 3 million investment highlights its dedication to fostering innovation and job creation in emerging markets. "We are pleased to support Ibtikar Fund II in advancing the digital economy and creating jobs, especially for women and youth," said Anne Fossemalle, EBRD Director for Private Equity Funds. "This investment aligns with our mission to drive sustainable growth in emerging markets."
“We are excited to welcome the EBRD to Ibtikar Fund II, as we share a common vision for empowering Palestinian entrepreneurs" said Habib Hazzan, Managing Partner of Ibtikar. "This collaboration will enhance our ability to fund innovative Palestinian startups that will become leaders in regional and global markets and prove that the startup ecosystem in Palestine has matured and is attractive for top-tier, international investors."
Since its launch, Ibtikar Fund II has attracted strong interest from institutional and private investors, including the Bank of Palestine, the Dutch Good Growth Fund (DGGF), and the International Finance Corporation (IFC).
The fund has already made significant investments in companies like DataQueue, Mental, and Vatrin, which are expanding beyond local markets to make a regional impact.
"This final closing marks an important step in our mission to provide much-needed capital to Palestinian founders, supporting them as they scale their businesses, fostering a tech ecosystem that is resilient and future-focused," said Ambar Amleh, Managing Partner of Ibtikar.
As Ibtikar Fund II continues its journey, the fund is poised to play a transformative role in both the Palestinian and regional economies by enabling startups to access international markets and create sustainable, long-term economic impact.
