With a target size of USD 125 million, Tri Ri Asset Management (“TRAM”) today announced the opening of their flagship venture capital fund, the TRAM Venture Fund (“TRAM VF”). TRAM VF will concentrate on the MENA region with a focus on Pakistan in particular. The fund’s anchor is Tri Ri Asset Impact Fund, which has pledged USD 50 million. TRAM VF is committed to meeting the growing needs of later-stage digital companies in Pakistan and the MENA region. The new fund’s investments will be made to support the development of creative early-stage and growth-stage tech businesses so that they may become industry leaders in the GCC, South Asia, and North Africa.
TRAM VF will assist local startups in meeting their demands and enabling them to compete on a regional and international scale. The local tech sector has recently experienced significant growth, but funding is not keeping up with the rapid pace of development and technology adoption. Due of this, the region has attracted both foreign venture investors and worldwide technological companies. To keep up with the rising demand for technological goods and services, TRAM VF will further accelerate the development of the VC ecosystem.
“Following the successful launch of our PE Impact fund last year, we are pleased to announce the launch of our Flagship VC Fund TRAM VF and its initial closure of $92 million,” said Adeel Hussain, General Partner of TRAM VF. “I would like to extend a special thank you to our anchor investor and the LP, a Swiss family office, whose dedication indicates how prime the area is for VC investments.”
“We look forward to deploying our first flagship VC fund in a region with such complex growth,” Asad Ali, Co-CIO & Principal, continued. “Our capital deployment approach, which we scaled from our real estate beginnings, has always been the driving force behind our rapid expansion. We will be able to help early-stage firms in the area leverage and expand their businesses using the same techniques. Data-driven thinking, specialist sourcing skills, and an unwavering dedication to deep partnerships with entrepreneurs characterize our investment strategy. In addition to being investors, we are also builders that use the collective market expertise of our team to advance businesses more precisely than generalist organizations. We never take for granted the honor of assisting entrepreneurs.”
TRAM VF will make investments across Fintech, healthcare, consumer, education, food security, real estate, B2B, and artificial intelligence across the area using its own market experience and metrics-driven review process.