Riyadh – Mubasher: Saudi investment firm CoreVision has acquired a stake in MENA-focused investment management platform VeFund, according to a press release.

This strategic partnership aligns with CoreVision's expansion into the startup community, as it will use the capital to scale up operations and enhance its portfolio with AI-driven technologies.

Established in 2023 by Mohamed Gaber and Ahmed Magdy, VeFund’s platform connects startups with investors by securing crucial tools such as an AI Survivability Index, valuation calculators, and extensive portfolio management solutions.

Through this truncation, CoreVision seeks to leverage VeFund's advanced AI technology to provide startups with the tools they need to reinforce their businesses.

Faisal Al Abdulsalam, Founder and CEO of CoreVision, will take over as the CEO of VeFund, bringing his accumulated experience and investments across more than 80 investments in various sectors.

“Our vision is to transform VeFund into a secondary market for startups, offering a platform for investors to trade safe notes, which is essential to contributing to the vibrancy of the startup community here in Saudi Arabia,” Al Abdulsalam continued.

Mohamed Gaber, Co-Founder of VeFund, said: “I believe strongly that this transition will drive VeFund's mission forward, fostering an environment of innovation and success for startups across the Middle East.”