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HomeMiddle EastKuwaiti telco Zain invests in US early stage technology venture fund

Kuwaiti telco Zain invests in US early stage technology venture fund

Kuwaiti telecoms firm Zain Group has made a strategic investment in Colle Capital Partners, an early stage technology venture fund based in New York, with a presence in San Francisco.

Colle Capital Partners has a diversified technology focus with an emphasis on data in energy, media, telecommunications, health IT, security, and software development.

Zain said its investment in Colle Capital Partners is its fourth in technology-focused venture capital and early-stage investment companies, without revealing the value of the investment.

The latest investment extends the geographic range of Zain’s potential partner entities to the United States, taking them beyond the Middle East and Eastern Europe where the company’s current investment ventures have their pool of influence.

Group CEO Scott Gegenheimer said: “We are delighted to add Colle Capital Partners to MEVP, Wamda and EarlyBird as early stage investment companies we have made investments in, with this fund being particularly nimble and highly selective.

“We are keen to extend our reach to the US as we are well aware of that market’s innovation and hi-tech credentials, and we believe ideas and solutions from that geography will drive real-life digital applications and create new revenue streams in our region.”

Victoria Grace, founder and managing partner of Colle Capital Partners added: “We are thrilled to be partnering with Zain in our efforts. We aim to bring to our portfolio companies not just capital but also access to forward thinking, strategic partners that will create significant synergies for our companies beyond US borders.”

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