Dubai-based BY Venture Partners closes $60m Fund III

According to Tech.eu, the Dubai-based firm BY Venture Partners has closed its third fund, "BY Venture Partners Fund III," with a total volume of $60 million. The newspaper Cinco Días reports the figure as just under €54 million. At the same time, the firm announced the opening of a new office in Lisbon.

The fund invests in stages ranging from pre-seed to Series A, with individual investments of up to $1 million. It focuses on "AI-native" startups that aim to reshape operational processes within companies. By the time the fund’s closure was announced, it had already made 15 investments, with plans to build a total portfolio of 40 companies.

According to Tech.eu, approximately 2/3 of the capital is being directed outside the MENA region, specifically to North America and Europe. The anchor investor is the "Dubai Future District Fund." Other participants include Multi Lane, Transmed Capital, and the Idriss Family Office from Saudi Arabia.

The four partners Ghaith Yafi, Abdallah Yafi, Rami Jisr, and Sohrab Jahanbani are all experienced founders themselves, having successfully built and exited companies before transitioning into the role of investors.

Portugal remains an attractive destination for international founders and continues to draw in talent. Against this backdrop, the opening of the new office is entirely logical.