Phoenix Venture Partners is an Abu Dhabi-based venture capital firm investing in early-stage technology startups across the GCC, MENA, and G20 markets, with a focus on sectors including fintech, healthtech, and edtech.
Phoenix Venture Partners invests in early-stage, innovation-driven technology companies across seven core verticals: fintech and insuretech, healthtech, agritech and foodtech, edtech, energy tech, logistics and mobility tech, and consumer tech.
The firm positions itself as a lead investor, backing founders building scalable, globally relevant businesses out of the GCC and wider MENA region, with an eye toward expansion into G20 markets.
The firm typically invests at the seed through Series B stages, with check sizes ranging from $100,000 to $7.5 million and the ability to deploy up to $7.5 million in a single company over its lifetime through initial checks and follow-on support.
Phoenix Venture Partners has completed fundraising for its debut vehicle, the Phoenix Venture Partners Innovation Fund (PVPIF), raising approximately $23 million combined across the main fund and dedicated co-investment vehicles, against an original $50 million target.
PVPIF counted 42 investors across 9 jurisdictions and 13 nationalities, including institutional investors, family offices, and high-net-worth individuals.
Disclosed backers include KSH Investments, the Abu Dhabi investment platform tied to a private department of H.E. Sheikh Mohamed Bin Khalid Al Nahyan; Kuwait's Al-Imtiaz Investment Group; the Fawzi Musaad Al-Saleh Family Office; and Luxembourg's Lucaslux S.à r.l. About 45 percent of committed capital remained available for deployment at final close, with the fund expected to remain in its investment period through 2027 or 2028.
Leadership
Phoenix Venture Partners was founded by Steve Khayat, Founder and Managing Director, alongside Co-Founders Faris Al-Obaid and Dr. Mussaad M. Al-Razouki.
Investment Strategy
The firm allocates up to 5 percent of capital to scouting, 35% to 40% to first investments, and up to 60% to follow-on rounds in its strongest companies.
PVPIF reported a TVPI of 1.53x as of the second quarter of 2026, which the firm says places it in the top decile for three consecutive quarters against Carta's benchmark for 2024-vintage funds.
The fund's portfolio stood at seven companies at final close, with a target of 15 to 20 companies by the end of its investment period.
Notable Investments
Steve Khayat, Founder & Managing Director
Faris Al-Obaid, Co-Founder & Non-Executive Director
Co-Founder & Executive Director
Zahi Hilal, Investment Associate
United Arab Emirates
