Iliad Partners

Iliad Partners is a UAE-based venture capital firm specializing in early-stage B2B technology startups across the MENA region, with a primary focus on Saudi Arabia and the UAE. The firm targets sectors such as fintech, logistics, and proptech, aiming to drive digitization and innovation within these industries. Founded by Christos Mastoras and Omar Al-Madhi, Iliad Partners leverages the extensive experience of its team, which includes former entrepreneurs and operators with global and regional expertise in business development, investments, and growth strategy execution. The firm adopts an active, hands-on approach, assisting founders in scaling their businesses, expanding into new regional markets, and achieving significant growth across MENA and beyond. In December 2024, Iliad Partners announced the first close of its $50 million Iliad Partners Tech Ventures Fund I, backed by prominent investors such as Jada Fund of Funds (a subsidiary of Saudi Arabia's Public Investment Fund), the Olayan Family, and Masarrah Investment Company. The fund has already made initial investments in regional startups including OTO, Penny, and Qashio, reflecting its commitment to fostering innovation and supporting the digital transformation of key sectors in the region.