Smpl Holdings, announces the launch of a $10-million fund, Smpl Fund I. The fund will support tech and AI startups in MENA and beyond, providing them with seed capital and strategic value-added services.
“The UAE has emerged as a global hub for startups and innovation,” says Smpl founding partner, Mohammad Abu Sheikh. He adds, “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.”
Mohammad added, “Moreover, the UAE’s workplace ethics, which prioritise respect, integrity, and social responsibility, are attracting global AI and Tech companies. These ethics and the country’s commitment to creating a tech-friendly ecosystem position the UAE as a global leader in AI adoption.”
As per Mohammad, “The founders of Smpl Holdings are second-generation serial entrepreneurs and experts who have experienced the grind and understand the nuances of the startup space. Our team brings more than just financial capital to the table. Two such startups that have already benefited from Smpl Fund’s strategic guidance and funding are Silla – a beauty and AI company and Actualize AI, an AI powerhouse founded by Google’s ex-employees.”
“Smpl Fund, apart from being a fund for startups, is a strategic initiative for our family’s commitment and belief in the UAE entrepreneurial ecosystem. We are in discussions with major players such as NVIDA MENA, and various other leading global and regional technology players to secure preferential treatment and free offerings for our portfolio of companies, we know that money by itself, is not the make it all component and as such try to increase our value add as much as we possibly can”, added Mohammad from Smpl Holdings.
