Smpl Fund I, a $10 million venture capital fund launched by Smpl Holdings in Abu Dhabi, has invested $250,000 strategically in multiple AI and technology companies within the Qora71 portfolio.
This investment, announced on Wednesday, reinforces the fund’s commitment to supporting AI innovation and strengthening the MENA region’s tech ecosystem.
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Smpl Fund I strengthens AI innovation with Qora71 investment
With a mission to empower AI and tech startups, Smpl Fund I provides seed capital and hands-on strategic support to fuel the growth of emerging companies. The fund targets early-stage AI enterprises with scalable potential, contributing to the region’s rapidly expanding technology sector.
Qora71, a venture investor syndicate and a member of the Hub71 Angel Program, offers accredited investors the opportunity to invest on a deal-by-deal basis without minimum commitments or fees. The syndicate’s portfolio includes over 50 technology companies, with a strong emphasis on AI and emerging tech sectors. Recent investments include Basetwo AI, zypl.ai, Abwab.ai, autone, Biosapien, and Algooru, signaling the region’s growing influence in artificial intelligence innovation.
Strategic Vision for AI Growth in MENA
Mohammad Abu Sheikh, Founding Partner of Smpl Holdings, emphasised the fund’s strategic approach:
“As second-generation serial entrepreneurs, we understand the unique challenges startups face. Smpl Fund I is not just about providing financial capital – we’re committed to delivering strategic value and accelerating the success of AI companies in the MENA region.”
He also highlighted the UAE’s position as a hub for AI startups, citing progressive policies, a tax-free environment, and world-class infrastructure as key factors that attract global talent and investment.
Qora71 welcomed the partnership, stating:
“We’re thrilled to welcome Smpl to our syndicate of strategic investors. Their deep experience in AI will add tremendous value to our portfolio, offering our startups access to a powerful network of clients, partners, and investors.”
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Fuelling the future of AI and tech startups
Smpl Holdings continues to shape the future of AI through strategic investments and operational expertise. With Smpl Fund I, the company aims to position itself as a key player in the MENA tech ecosystem, ensuring that AI startups receive the necessary funding and mentorship to thrive.
This latest investment marks another step toward accelerating AI innovation, enhancing regional tech capabilities, and strengthening the startup ecosystem in MENA and beyond.