Key Takeaways
- • BY Venture Partners, a UAE-based early-stage venture firm, closed its third fund, Fund III, at $60 million, lifting total assets under management above $200 million.
- • Dubai Future District Fund (DFDF) anchors Fund III, with participation from MultiLane, Transmed Capital, the Idriss Family Office (KSA) and other institutional and private investors.
- • Fund III will invest up to $1 million per startup at the Pre-Seed to Series A stages, targeting AI-native companies focused on enterprise workflows.
- • The fund has made 15 investments of a planned 40-company portfolio, including PQ Shield, Cosyne, Isometric, Huspy and Invisible.
- • BY Venture Partners won a mandate to manage the Lebanese Angel Investor Network (LAIN) and will reinvest 50% of its carried interest into Lebanon's startup ecosystem.
Summary
Dubai-headquartered BY Venture Partners has closed its third vehicle, Fund III, at $60 million, according to the firm's announcement and the Wamda report. The close takes the firm's total assets under management to more than $200 million. The Dubai Future District Fund (DFDF) anchors the fund, with participation from regional institutions, corporate venture arms and family offices, including AI and high-speed data infrastructure company MultiLane, Transmed Capital and the Idriss Family Office (KSA).
Fund III will invest primarily up to $1 million per startup at the Pre-Seed to Series A stages. The strategy targets AI-native companies that reimagine enterprise workflows and aim to scale globally from the outset. The firm operates across more than 16 international markets, with roughly two-thirds of its capital deployed outside MENA, mainly in North America and Europe. To date, the fund has made 15 investments against a planned portfolio of 40 companies, including PQ Shield, Cosyne, Isometric, Huspy and Invisible.
Nader Albastaki, Managing Director of DFDF, said the commitment reflects the fund's role in linking Dubai's AI ecosystem with international deal flow, in line with Dubai's Economic Agenda D33. MultiLane Founder and CEO Fadi Daou said the firm has backed BY since inception. Ghaith Yafi, Founding Partner, said the fund aims to attract global AI companies into the Middle East. The press release cites a McKinsey November 2025 GCC survey finding that 84% of organisations used AI in at least one business function, up from 62% in 2023.
The firm's founding partners are Ghaith Yafi, Abdallah Yafi, Rami Jisr and Sohrab Jahanbani, all repeat entrepreneurs. Earlier funds backed NymCard, Toters, Huspy and Invisible. The firm reports a Founder Net Promoter Score of 87, and says Fund I, which had exposure to Lebanon's financial collapse, is still on course for a strong multiple, while Fund II continues to perform strongly. Together the two funds have produced four unicorns.
Separately, BY Venture Partners won the MITAI-backed mandate to manage the Lebanese Angel Investor Network (LAIN), which connects diaspora capital with early-stage Lebanese founders. The firm will reinvest 50% of its carried interest into rebuilding Lebanon's startup ecosystem.
Fund III will invest primarily up to $1 million per startup at the Pre-Seed to Series A stages. The strategy targets AI-native companies that reimagine enterprise workflows and aim to scale globally from the outset. The firm operates across more than 16 international markets, with roughly two-thirds of its capital deployed outside MENA, mainly in North America and Europe. To date, the fund has made 15 investments against a planned portfolio of 40 companies, including PQ Shield, Cosyne, Isometric, Huspy and Invisible.
Nader Albastaki, Managing Director of DFDF, said the commitment reflects the fund's role in linking Dubai's AI ecosystem with international deal flow, in line with Dubai's Economic Agenda D33. MultiLane Founder and CEO Fadi Daou said the firm has backed BY since inception. Ghaith Yafi, Founding Partner, said the fund aims to attract global AI companies into the Middle East. The press release cites a McKinsey November 2025 GCC survey finding that 84% of organisations used AI in at least one business function, up from 62% in 2023.
The firm's founding partners are Ghaith Yafi, Abdallah Yafi, Rami Jisr and Sohrab Jahanbani, all repeat entrepreneurs. Earlier funds backed NymCard, Toters, Huspy and Invisible. The firm reports a Founder Net Promoter Score of 87, and says Fund I, which had exposure to Lebanon's financial collapse, is still on course for a strong multiple, while Fund II continues to perform strongly. Together the two funds have produced four unicorns.
Separately, BY Venture Partners won the MITAI-backed mandate to manage the Lebanese Angel Investor Network (LAIN), which connects diaspora capital with early-stage Lebanese founders. The firm will reinvest 50% of its carried interest into rebuilding Lebanon's startup ecosystem.
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