Abu Dhabi, UAE, October 12, 2026 – Phoenix Venture Partners Limited (“PVP”), an ADGM-domiciled and FSRA-regulated venture capital fund manager, today announced that the fundraising period for Phoenix Venture Partners Innovation Fund CEIC Ltd. (“PVPIF”) will conclude effective October 3rd, 2026, after which the Fund will no longer accept new commitments.
Across PVPIF and dedicated co-investment vehicles, PVP has raised approximately $23 million in total capital. PVPIF has brought together 42 investors across 9 jurisdictions, representing 13 nationalities and corporate domiciles, spanning institutional investors, family offices and high-net-worth individuals.
The Fund’s notable investors include Abu Dhabi-based KSH Investments LLC, the international investment platform of the Private Department of H.E. Sheikh Mohamed Bin Khalid Al Nahyan; Kuwait-based Al-Imtiaz Investment Group and Fawzi Musaad Al-Saleh Family Office; and Luxembourg-based Lucaslux S.à r.l., the private investment fund of Patrick Lucas, alongside the Fund’s broader international investor base.
PVPIF has delivered top-decile performance on a TVPI basis for three consecutive quarters. Most recently, the Fund recorded a TVPI of 1.53x, exceeding the 1.50x 90th-percentile threshold for 2024-vintage funds, according to Carta’s IRR, TVPI, and DPI Benchmarks Across Vintages, based on data as of Q2 2026.
With fundraising now complete, PVPIF remains actively within its investment period. Approximately 45% of the Fund’s committed capital remains available for deployment, providing significant capacity for new investments and continued support of existing portfolio companies. PVP expects the Fund to continue deploying capital throughout 2027 and potentially into 2028, while maintaining a selective approach to new opportunities and follow-on investments.
PVPIF currently holds investments in seven portfolio companies and is targeting a portfolio of approximately 15 to 20 companies by the end of its investment period. The Fund continues to evaluate opportunities across its core investment verticals, with a focus on technology companies capable of scaling across the MENA region and internationally.
Steve Khayat, Founder and CEO of Phoenix Venture Partners, said:
“October 3rd marks the completion of fundraising for PVPIF, but we are still very much in the middle of its investment journey. We are grateful for the trust placed in us by 42 investors from nine countries and proud of the broader investment platform we have built around the Fund, with approximately $23 million in capital raised across PVPIF and dedicated co-investment vehicles.
“What matters most to us now is execution. PVPIF has delivered top-decile TVPI performance for three consecutive quarters, while approximately 45% of the Fund’s capital remains available for deployment. We have seven companies in the portfolio today and expect that number to reach between 15 and 20 by the end of the investment period. We will continue to deploy patiently, remain highly selective and work closely with our founders as they scale.
“Closing the fundraising chapter of our first vintage also gives us the foundation to think bigger. The next chapter for PVP is already taking shape, and we expect to share more on that soon.”
Faris Al-Obaid, Co-Founder, Phoenix Venture Partners, added:
“Reaching this milestone reflects strong institutional confidence in our thesis and the strength of the cross-border ecosystem we have established across ADGM, Kuwait, and the wider region. The backing of premier family offices and institutional investors across nine jurisdictions validates our disciplined approach to early-stage investing. As we transition fully into capital deployment and value creation, our focus remains on leveraging PVP’s regional network and governance framework to support our portfolio companies in scaling across MENA and G20 markets.”
The completion of PVPIF’s fundraising period marks the transition of PVP’s first vintage into its next phase. With substantial capital remaining for deployment and the portfolio continuing to grow, PVP’s immediate focus remains on executing PVPIF’s investment strategy, supporting its existing portfolio companies and selectively adding new investments through the remainder of the Fund’s investment period.