Cisco joins foundations and state backers in committing $28.7m to Middle East Venture Capital Fund.
The Middle East Venture Capital Fund (MEVCF) has raised $28.7m in commitments from a group of international companies, foundations and other investors for the first vehicle targeting Palestinian technology companies.
The fund will invest in start-up companies in the internet, mobile and software sectors in the West Bank. The fund’s investors include computer network equipment provider Cisco, which already outsources development work to Palestinian software companies; venture philanthropy backing from Google’s Foundation, the Soros Economic Development Fund, Skoll Foundation and…
