Tri Ri Asset Management (“TRAM”) today announced the launch of their flagship venture capital fund, the TRAM Venture Fund (“TRAM VF”), with a target size of USD 125 million. TRAM VF will be focused on the MENA region, with a particular emphasis in Pakistan. Tri Ri Asset Impact Fund, with a commitment of USD 50 million, serves as the fund’s anchor. TRAM VF is dedicated to serving the later-stage tech company growth needs in Pakistan and MENA. The new fund’s deployment will focus on investing in innovative early-stage and growth-stage tech companies and enabling them to emerge into market leaders in GCC, South Asia, and North Africa.
TRAM VF will meet the needs of local startups and help them to become regional and global competitors. The local tech industry has recently seen substantial expansion; yet, funding is falling behind the quick speed of change and technological adoption. This has drawn global technology businesses as well as international venture capitalists to the region. TRAM VF will further accelerate the growth of the VC ecosystem in order to meet the increasing demand for technology products and services.
Adeel Hussain, General Partner of TRAM VF stated: “Following the successful launch of our PE Impact fund last year, we are pleased to announce the launch of our Flagship VC Fund TRAM VF and its initial closure of $92 million. A particular thanks to our anchor investor, as well as the LP a Swiss family office, whose commitment demonstrates how ripe the region is for VC investments.”
Asad Ali, Co-CIO & Principal added: “We look forward to deploying our first flagship VC fund in a region with such complex growth. Scaling from our roots in Real Estate our capital deployment strategy has always been the core of our rapid growth. We will be able to use the same strategies to assist early stage startups within the region to leverage and grow their business. Our investment strategy is defined by a data-driven approach, specialized sourcing capabilities, and an uncompromising commitment to meaningful collaboration with entrepreneurs. We are more than just investors; we are also builders, utilising our team’s market experience to propel firms more precisely than generalist organisations. Supporting entrepreneurs is a privilege that we never take for granted.”
TRAM VF will utilize its differentiated market expertise and metrics-driven evaluation process, to invests across Fintech, healthcare, consumer, education, food security, real estate, fintech, B2B, Artificial Intelligence across the region.
About Tri Ri Asset Management:
Tri Ri Asset Management, is a concentrated, research-intensive, fundamental value investor in the public markets. Since 2019, Tri Ri has executed an aggressive but disciplined growth strategy, building a balanced portfolio of public market and real estate holdings.
As of March 2023, Tri Ri’s portfolio composed of USD 850 million in assets under management along with USD 1.2 billion in Co-investments and 7 renowned properties with over 1500 rooms.