The fund was oversubscribed. Investors included the World Bank’s International Finance Corporation and Disrupt AD, and Abu Dhabi Developmental Holdings’ venture platform.

Fund III has been investing actively since its first close in March 2020 and has completed 30 investments out of a targeted 35, anticipating more than $100 million deployed by the end of 2021. Ventures include Shipper, Stockbit, Ula, Aruna, Bukuwarung and Colearn, which are already Centaurs” – firms with valuations of $100 million or more.  Some are close to $1 billion valuations, making them “unicorns,” the fund’s managers said.