Business, Investments

Fenox announces $100M fund for MEast, Asia and US

Fenox Venture capital, with its new fund ‘Fenox Global Fund IV’ aims at investing in businesses across US, Middle East and Asia. The fund corpus is USD 100 million. As per a Business Line report, the fund has been launched in partnership with Dubai’s consultancy firm, Innovation 360.

The new startup fund seeks investment in areas such as Internet, healthcare technology, clean tech, communication, etc.  It will invest via seed and series A funding in Middle East and US while  pre-IPO  companies in Asia.

We tried contacting the Fenox team to know more details on this, however, the response is still awaited.

“We are breaking new ground in the Middle East with the Fenox Global Fund IV. I know of no other time that a Silicon Valley VC has used capital from Middle East investors to promote entrepreneurship in the local region,” said Brent Traidman, General Partner at Fenox to Business Line.

Fenox VC is a Silicon Valley-based venture capital firm founded in 2012 with teams in global locations.  It usually invest in startups with world-class management and technical teams that are targeting disruptive opportunities in the consumer Internet, retail, and software sectors. Also, the team prefers to work with emerging companies that can benefit from fast-growing markets in Asia and Europe.

The previous fund was launched in October 2013 and was valued at USD 20 million.

The firms recent investment included Sidecar (ridesharing marketplace), TechInAsia (online news portal), Lark (wearable tech), JFDI Asia (Singapore-based seed accelerator) and many more.

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