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Dubai-based BECO Capital raises $100M for 2nd fund

BECO Capital raised $100 million for its second fund, exceeding its $80 million target, MENAbytes reported.

Investors in the Dubai, United Arab Emirates-based firm's BECO Fund II include existing investors and is anchored by Rimco Investment andInternational Financial Corp., with Warba Bank, Watar Partners and KAAF Investments also committing capital to the fund.

BECO Capital is a venture capital firm investing in early-stage startups in the Middle East and North Africa. It has invested in companies such as Careem Networks FZ LLC, Property Finder and Swvl across its two funds.