Dubai – Sharikat Mubasher: Dubai-based tech firm Yango Group introduced a $20 million corporate venture fund targeting early-stage startups in the Middle East, North Africa, and Pakistan (MENAP), Sub-Saharan Africa, and Latin America.
Named Yango Ventures, the fund will focus on seed to Series B startups in sectors such as online-to-offline (O2O) services, B2B software-as-a-service, and fintech, according to a recent press release. Yango Group aims to expand the fund as entrepreneurial ecosystems develop in these markets.
Daniil Shuleyko, CEO of Yango Group said: "Our ecosystem empowers entrepreneurs globally. With Yango Ventures, we provide expertise and networks to help startups succeed and drive positive change."
The launch signals Yango Group's move beyond adapting global tech solutions for local markets. The company operates in over 30 countries, offering services like ride-hailing, entertainment, payments, and navigation.
Yango Ventures is targeting 10-20x returns on Series A investments by combining capital with strategic support. Its board features specialists in scaling platforms across mobility, entertainment, fintech, and AI.
The fund will focus on high-growth markets, leveraging Yango's global presence to accelerate digital transformation. While no investments have been confirmed yet, talks are underway with startups that align with its vision.
Unlike typical corporate funds, Yango Ventures will not seek control over its portfolio companies; instead, it will offer support when needed. The fund also plans to collaborate with other VCs to enhance its investment strategy.
Starting with $20 million, Yango Ventures may expand its capital based on the performance of its initial investments, reinforcing its commitment to fostering digital growth in emerging markets.
