Dubai and Riyadh-based Nuwa Capital has announced the first close of its flagship fund – Nuwa Ventures Fund I (NVFI), having raised three-quarters of its $100 million target.

The fund primarily targets rapidly growing markets in MENA and neighbouring geographies, including sub-Saharan Africa, Turkey and Pakistan.

Nuwa Capital was founded in February 2020 by Khaled Talhouni, Sarah Abu Risheh and Stephanie Nour Prince in response to a lack of impactful operational and strategic ...