SMPL Holdings has announced the launch of SMPL Fund I, a $10 million venture capital fund focused on investing in technology and artificial intelligence companies across the Middle East, North Africa, and beyond.
Mohammad Abusheikh, a founding partner of SMPL Holdings, emphasized the UAE’s appeal for startups and global talent. “The UAE has emerged as a global hub for startups and innovation.
The country’s progressive policies, tax-free environment, highly developed tech and civil infrastructure, and strategic location make it an attractive destination for startups and the world’s top talents,” he stated.
Abu Sheikh also highlighted the UAE’s workplace ethics, which prioritize respect, integrity, and social responsibility, as key elements attracting global AI and tech companies. “These ethics, along with the country’s commitment to creating a tech-friendly ecosystem, position the UAE as a global leader in AI adoption,” he added.
In 2023, the UAE attracted over $2 billion in venture funding for startups, showcasing the region’s rapid growth and increasing appeal to investors. This substantial investment underscores the UAE’s growing status as a key player in the global tech and AI sectors.
With SMPL Fund I, SMPL Holdings aims to leverage these favorable conditions to support and drive the growth of tech and AI startups in the MENA region, contributing to the region’s burgeoning innovation landscape.
