Latham Advises VentureSouq on the Launch of Its Fintech Fund

Latham & Watkins has advised VentureSouq (VSQ), a GCC-based venture capital firm, on the launch of MENA Fintech Fund I, the region’s first sector specific fund focused on Fintech across the Middle East & North Africa (MENA) region, and Pakistan.

The US$50 million fund invests in early-stage Fintech and SaaS companies and focuses on key subsectors including payments infrastructure, alternative credit, digital banking, PropTech, InsurTech and personal financial management, working closely with innovative regional entrepreneurs that are disrupting the financial services sector.

VentureSouq MENA FinTech I is backed by ADQ’s venture platform, Mubadala Investment Company, Jada Fund of Funds, Saudi Venture Capital Company (SVC), Al Waha Fund of Funds, and the UAE’s DisruptAD, as well as multinational conglomerates.

The team was led by Dubai counsel Eyad Latif and London partner James McCrory with London associates Thea Crawshaw and Joshua Oyedele and Dubai associates Omar Maayeh and Connie Leung.