New Investments
P1 Ventures Completes Final Close of Its First $50 Million Institutional Fund
Early-stage venture capital firm P1 Ventures has successfully closed its first institutional fund, securing $50 million to invest in promising technology startups across Africa.
Co-founded by Mikael Hajjar and Hisham Halbouny, P1 Ventures is a contrarian VC firm that aims to support early-stage tech entrepreneurs through strategic funding and mentorship.
With a portfolio spanning 34 companies in 10 countries, the firm has now attracted investment from a diverse group of backers, including African conglomerates, family offices, global VC partners, and the International Finance Corporation (IFC).
P1 Ventures’ total assets under management now exceed $60 million, reinforcing its commitment to fueling innovation on the continent.
The firm has backed startups in different sectors such as fintech and artificial intelligence (AI), focusing on businesses poised for high-impact growth.
“From game-changing fintech to pioneering AI applications, we’re uniquely positioned to identify opportunities and support their growth,” said Hisham Halbouny, managing partner at P1 Ventures.
“Great companies are often built in tough times, and today’s founders are more frugal, focused, and realistic about valuations. We believe this may be the greatest vintage ever.”
With this latest fund, P1 Ventures is set to play a pivotal role in shaping Africa’s tech landscape by supporting visionary founders in scaling their businesses across the continent.
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