About e&
e& is a venture capital firm founded in 1976. It is primarily based out of Abu Dhabi, United Arab Emirates. As of Oct 2026, e& is an active investor, having invested in 19 companies, with 3 new investments in the last 12 months. It primarily invests in Series A round in United Arab Emirates based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to High Tech and Consumer. Most recently it participated in the $***** Series B round of Clockwork Overall, e& portfolio has seen 1 unicorn, 1 IPO and 2 acquisitions including key companies like Vodafone, Airalo and Ikigai. A lot of funds co-invest with e&, with names like Partech Partners sharing a substantial percentage of its portfolio. e& has team of 30 people including 23 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B & 3 more
Portfolio IPOs
Portfolio Unicorns
e&'s List of Top Investments
e& has a portfolio of 19 companies, one of which is a Unicorn. Their most notable investments are in Maxbyte and VUZ.Their portfolio spans across United Arab Emirates, United States, United Kingdom and 3 more locations. They have invested in Enterprise Applications, High Tech, Consumer and 12 other sectors, across stages such as Series A, Series B and 3 more. Here is the list of top investments by e&:1. Vodafone
Virtual card-linked wallet for consumer payments. Enables to reflect expenses on the invoice, check transaction history, top-up wallet balance with debit or credit cards, pay for online shopping, and more. Application is made available on Android and iOS platforms. In 2022, the company recorded annual revenues of $49.74B and a net profit of $2.25B.
Key facts about Vodafone
- Founded Year: 1982
- Location: Newbury (United Kingdom)
- Stage: Public
- Employee Count: 155,972 as on Sep 30, 2026
- Investors: Elliott Management, Liberty Global and 12 Others
- Latest Funding Round: Grant (prize money), Jan 17, 2025, $*****
- Highlight: Public
2. Airalo
Operator of eSIM stores intended to provide connectivity to travellers. It allows users to select local, regional, or global prepaid eSIM plans for mobile data, calls, and text services. It is available on both Android and iOS devices.
Key facts about Airalo
- Founded Year: 2019
- Location: Delaware (United States)
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $287M
- Employee Count: 406 as on Sep 30, 2026
- Investors: Liberty Global, Orange and 20 Others
- Latest Funding Round: Series C, Jul 10, 2025, $*****
- Highlight: Editors' Pick
3. Nawy
Online listing platform to buy, sell or rent residential and commercial properties. It facilitates users to search for a studio, penthouse, townhouse, retail, twin house, duplex, chalet, apartment, services apartment, clinic, villa, cabin, office, and family house.
Key facts about Nawy
- Founded Year: 2004
- Location: Cairo (Egypt)
- Stage: Series A
- Total Funding till date: $57M
- Employee Count: 1,759 as on Sep 30, 2026
- Investors: e&, Development Partners International and 16 Others
- Latest Funding Round: Series A, May 11, 2025, $*****
- Highlight: Editors' Pick
4. Ikigai
Developer of an AI platform providing forecasting and planning capabilities. The platform offers time series forecasting, scenario planning, and data connection. It delivers solutions to business users, data scientists, and IT professionals. The platform supports industries such as retail, manufacturing, and financial services.
Key facts about Ikigai
- Founded Year: 2019
- Location: San Francisco (United States)
- Stage: Acquired
- Total Funding till date: $38.2M
- Employee Count: 118 as on Aug 31, 2026
- Investors: Foundation Capital, Premji Invest and 5 Others
- Latest Funding Round: Series A, Aug 18, 2023, $*****
- Highlight: Acquired
5. Qlub
Provider of digital payment software for restaurants and hospitality businesses. This technology facilitates transaction processing at tables to increase payment speed and improve operational efficiency. The software integrates with existing systems to assist staff with managing guest settlements and gathering feedback.
Key facts about Qlub
- Founded Year: 2021
- Location: Dubai (United Arab Emirates)
- Stage: Series B
- Total Funding till date: $72M
- Employee Count: 419 as on Aug 31, 2026
- Investors: Mubadala, Heartcore Capital and 11 Others
- Latest Funding Round: Series B, Jul 21, 2025, $*****
- Highlight: Editors' Pick
e&'s Year-on-Year Investment Trends
e& has invested in 20 companies over the last 4 years, with an average of 2 new investments annually in the last 3 years. In 2025, it made 6 investments, while as of Oct 2026, it has made 2 investments in this year. Its most recent first time investment was in Clockwork and most recent follow-on round was in Traydstream.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 2 | 0 | 2 |
2025 | 5 | 1 | 6 |
2024 | 1 | 1 | 2 |
2023 | 6 | 0 | 6 |
2022 | 4 | 0 | 4 |
e&'s Investments by Stage
e& has made 7 investments in Series A stage with an average round size of $23.2M, 7 investments in Series B stage with an average round size of $28.1M, 2 investments in Seed stage with an average round size of $1.4M, 1 investment in Post IPO stage with an average round size of $4.4B and 1 investment in Series C stage with an average round size of $10M.Stage of entry | No. of Investments |
|---|---|
Series A | 7 |
Series B | 7 |
Seed | 2 |
Post IPO | 1 |
Series C | 1 |
Note: We have considered here, only first round of investments
e&'s Investments by Sector
e& has a diverse portfolio, with companies operating in the Enterprise Applications, Vertical SaaS, Consumer, FinTech and High Tech. Notably, it has invested in 15 Tech companies, 9 Enterprise (B2B) companies, 8 Consumer (B2C) companies and at least 8 companies focusing on Software.Sector | No. of Investments |
|---|---|
Enterprise Applications | 8 |
Vertical SaaS | 4 |
Consumer | 3 |
FinTech | 3 |
High Tech | 3 |
Others | 16 |
Note: We have considered here, only first round of investments
e&'s Investments by Geography
e& has made most investments in United Arab Emirates (8), followed by United States where it has made 5 investments.Country | No. of Investments |
|---|---|
United Arab Emirates | 8 |
United States | 5 |
United Kingdom | 2 |
Egypt | 1 |
France | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
e&'s recent investments
e& has made 2 investments in 2026 so far - Clockwork and MagicCube.Here are the most recent investments by e&:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 05, 2026 | United States | Series B | 9443 | [+3] | |
Apr 28, 2026 | United States | Series B | 6073 | - | |
Nov 25, 2025 | United Arab Emirates | Series B | 7518 | [+2] | |
Aug 25, 2025 | United Kingdom | Series B | 9954 | ||
Jul 21, 2025 | United Arab Emirates | Series B | 6755 | [+4] |
Unicorns in e&'s Portfolio
e& has 1 unicorn in its portfolio - Airalo. The most recent unicorn in their portfolio is Airalo which became a unicorn in 2025, 1 years after e& first invested in it.Here is a list of unicorns in e&'s portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
73 | Operator of eSIM stores intended to provide connectivity to travellers | 2019 | Delaware | Series C | hffs{b{ |
IPOs and Publicly Listed companies in e&'s Portfolio
1 of e&'s portfolio company became public - Vodafone. It got listed on the London Stock Exchange (LSE), in Oct 1988.Here are e&'s portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Oct 26, 1988 | May 14, 2022 | Post IPO | 1684 |
Acquired companies in e&'s Portfolio
2 companies from e&'s portfolio have been acquired. The most recent acquisition was Ikigai in May 2026 by Celonis for $*****.Here are e&'s portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
May 12, 2026 | Aug 18, 2023 | Series A | 7997 | |
Nov 02, 2020 | - | - | 2337 |
Team profile of e&
e& has a team of 30 members including 23 Partners and 3 Principals located in United Arab Emirates, Pakistan and 1 more location. e&'s team does not sit on the board of any company as of now.Here is a list of top team members in e&:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | United Arab Emirates | - | ||
Partner | Dubai | - | - | |
Partner | - | - | - | |
Partner | - | - | ||
Partner | United Arab Emirates | - | ||
Partner | - | - | - | |
Partner | - | - | - | |
Partner | - | - | - | |
Partner | - | - | ||
Partner | United Arab Emirates | - | - | |
Partner | - | - |
Co-investors of e&
Over the past 4 years, 179 investors have co-invested in e&'s portfolio companies. This includes funds and angels.
- Invested before e&: Plug and Play Tech Center, Shorooq Partners and 110 others have invested in rounds before e&. There are 2 companies where Plug and Play Tech Center has invested before e& and 2 companies where Shorooq Partners has invested before e&.
- Top Co-investors of e&: 56 investors entered a company along with e&. These include investors like Partech Partners (2 companies).
- Invested after e&: A total of 11 investors have invested in e&'s portfolio after their investments. Top Investors include Atlas Investissement (1 company), Liberty Global (1 company) and USAID (1 company).
Recent News related to e&
•
Etisalat achieves record 9M 2026 performance as consolidated net profit rises 46% YoY to AED 17.2 billionPR Newswire•Oct 28, 2026•e&
•
•
•
E& and UAE Cyber Security Council test Rannah secure communications platformTelecompaper•Sep 29, 2026•e&
•
•
UAE TDRA, E& and Khalifa University publish 'The Golden 6 GHz Band' white paperTelecompaper•Sep 21, 2026•NYU, e&, Khalifa University
•
•
E& UAE and Accenture Partner for AI Transformation ServicesTelecompaper•Sep 16, 2026•e&, Accenture, Anthropic
•
•
e& UAE launches Business Pro AI bundled with Microsoft CopilotTahawulTech.com•Aug 24, 2026•e&, Microsoft
