A new venture capital fund to invest in high-tech start-ups in the telecommunication, IT, media and entertainment sectors has been launched by Etihad Etisalat (Mobily), Saudi Arabia’s second-largest telecommunications company.
Mobily Ventures is established as the corporate venture capital arm of Mobily to focus on early stage and growth stage start-ups in a number of areas.
As a strategic investor, Mobily Ventures will be interested in e-commerce and retail innovation, mobile financial services and payment, digital advertising, digital content and entertainment as well as IT and cloud services.
The aim is to build the technological and economical synergies between the selected start-ups and Mobily, and enable start-ups to leverage Mobily’s assets to accelerate their growth.
Original article by Tamara Pupic
Continue reading at Arabian Business:
Saudi’s Mobily launches VC fund for tech start-ups
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