Iliad Partners

Iliad Partners is a Venture Capital fund manager based in the UAE, specializing in early-stage technology companies across the MENA region. The firm adopts an active, hands-on approach, leveraging its team's entrepreneurial and operational background to support founders in scaling their businesses, expanding into new regional markets, and facilitating digital transformation for large corporations through localized solutions.

The firm primarily focuses its investments on B2B technology startups in Saudi Arabia and the UAE, targeting Pre-Series A and Series A stage capital. Key sectoral verticals include fintech, proptech, and logistics. Iliad Partners also strategically invests in innovative European startups, particularly those in Greece, that are seeking entry into the MENA market with disruptive technologies capable of addressing critical innovation gaps in the region.

Iliad Partners was founded by Christos Mastoras, a seasoned tech entrepreneur and former executive, and Omar Al-Madhi, a Saudi investment executive, both MIT Sloan classmates. Sultan K. Olayan later joined as a partner. The firm launched its $50 million Iliad Partners Tech Ventures Fund I, which has attracted significant commitments from prominent regional and global investors, including Jada Fund of Funds (a subsidiary of Saudi Arabia's Public Investment Fund), the Olayan Family, and leading Greek banks like Eurobank, National Bank of Greece, and Piraeus Bank.

The investment team is led by Christos Mastoras (Founder & Managing Partner), Dalal Al Mutlaq (Partner), and Pier Armando Vender (Principal), supported by a network of Venture Partners and a Global Advisory Council. The team's collective experience spans investing, building, and exiting companies in MENA and globally, enabling them to provide comprehensive support in business development, market access, talent acquisition, governance, finance, and subsequent fundraising rounds.