Morphosis Venture Capital picks Apex for fund services
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Morphosis Venture Capital picks Apex for fund services 22 November 2022UAE Reporter: Lucy Carter
Image: Alexey Stiop
Dubai-based Morphosis Venture Capital (Morphosis) has selected Apex Group (Apex) to provide fund administration, corporate secretarial and tax reporting services to its Alicorn India Fund 1 LP.
Morphosis invests in early-stage tech startups, with the US $100 million Alicorn India Fund 1 LP focusing on Indian ESG, B2B and SaaS.
Venture capital deployment in the UAE has grown by 93 per cent since 2020. Dubai sits at the centre of managers’ interest, thanks to the direct access it offers to MENA emerging markets, global capital pools and startups, says Apex.
This partnership follows Apex’s recent mandates with Aliph Capital, Blue Collective and Participant Capital Advisors.
Amit Zutshi, founder of Morphosus, says: “We are pleased to be partnering with Apex Group for the administration of our India fund. Their single-source solution stood out for us, as it enables us to access all of the fund administration, corporate secretarial and tax reporting services we need through one convenient relationship. Apex Group’s cross-border presence and knowledge will be useful for us as we scale our investments.”
Glyn Gibbs, head of business development for MENA at Apex, comments: “The venture
capital ecosystem in the UAE continues to go from strength to strength, with Dubai’s regulators providing a cost-effective home to the region’s new VC fund launches. We look forward to supporting Morphosis’ entrepreneurial team with solutions which deliver operational, resource and cost efficiency, allowing them to focus on the raising and investing of capital.”
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Image: Alexey Stiop 