Dubai’s Yango Group targets Pakistan, others with $20m startup fund: report

Yango Group, the Dubai-headquartered tech company that offers ride-hailing services in Pakistan, has set up a $20 million corporate venture fund targeting early-stage startups across the Middle East, North Africa, and Pakistan (MENAP), Sub-Saharan Africa, and Latin America, it has been reported.

“These dynamic, high-growth markets offer substantial opportunities, and we leverage our global expertise to help startups scale and succeed, driving digitalisation and sustainable impact in the regions we serve,” a spokesperson told Arabian Business.

“We don’t plan to be involved in daily operations. Instead, we provide support to entrepreneurs when they request it, offering guidance and connections to help them as needed,” the spokesperson added.

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The fund, called Yango Ventures, will focus on seed to Series B investments primarily in online-to-offline (O2O), B2B software-as-a-service, and financial technology sectors.

The fund aims to identify ventures with strong market fit and scalable business models where Yango’s expertise can provide additional value.

For Series A startups, which the fund identifies as its “sweet spot,” Yango Ventures is targeting returns of 10-20x over an unspecified timeframe, according to documents reviewed by Arabian Business.

“We’re more than a tech company; we are an ecosystem committed to empowering entrepreneurs worldwide,” Daniil Shuleyko, CEO of Yango Group was quoted as saying.

“Through Yango Ventures, we’re sharing our expertise and network to help startups scale, thrive, and drive meaningful change in their communities.”

The company already offers ride-hailing service Yango Ride, entertainment platform Yango Play, payment solution Yango Pay, and navigation service Yango Maps across more than 30 markets globally.

The report said that the fund’s creation represents a major expansion of the Group’s operations beyond its core businesses.

Apart from capital, the fund will draw on expertise from a board made up of professionals from sectors including mobility, entertainment, fintech and AI.

“By supporting local talent with the right tools and resources, we aim to foster sustainable business growth and contribute to resilient and inclusive economies across the globe,” Shuleyko told Arabian Business.

While starting with $20 million in committed capital, Yango Ventures has indicated it may expand the fund’s size pending the performance of initial investments.

While the fund has yet to announce any investments, it is “actively engaging in discussions with several promising startups that align with our investment focus and entrepreneurial mission,” a spokesperson confirmed to Arabian Business.