The Lab Ventures Closes AED124 Million Fund II to Accelerate MENA B2B Innovation The fund closed in July 2025, backed by Spain's ICO (Instituto de Crédito Oficial), strategic family offices, and successful entrepreneurs across Europe and the Gulf.

Dubai- and Madrid-based The Lab Ventures has closed its second fund at AED124 million (€29.1 million), marking a major step in its mission to scale B2B digital transformation across MENA and Europe.

The fund will target pre-seed and seed-stage companies driving digitalization in proptech, healthtech, and AI-powered professional services.

The fund closed in July 2025, backed by Spain's ICO (Instituto de Crédito Oficial), strategic family offices, and successful entrepreneurs across Europe and the Gulf. "Spain brings deep product and vertical-SaaS talent; the UAE brings scale, procurement urgency, and policy tailwinds. Our Madrid–Dubai footprint turns that into a single go-to-market for B2B founders," said Jonathan Lahyani, General Partner for MENA and GCC regions, based in Dubai.

Since the fund's first close in 2024, The Lab Ventures has deployed capital across seven portfolio companies operating in Southern Europe, the UAE, and emerging MENA and GCC markets, including PropSpace and Heale.io.

"The Lab Ventures understood that transforming how our ecosystem connects, from tenants to brokers, by introducing consolidated all living-related transactions onto a single marketplace with an integrated payment gateway for seamless exchanges", said Patrick Caulfield, CEO of PropSpace. "The platform also serves as The Lab Ventures' strategic beachhead for European PropTech portfolio companies expanding into MENA and facilitating market introduction via PropSpace CRM."

"The Lab Ventures team has been a true partner in building a scalable, impactful business that's transforming how companies and insurers connect directly," said Hugo van der Slikke, CEO of Heale.io.

Lahyani added, "With PropSpace, we've built a strategic beachhead for European PropTech startups entering MENA, plugging into a CRM that already connects brokers, landlords and tenants, and increasingly, a curated marketplace of real estate-related products and services with integrated payments.

"In the B2B market, we are witnessing rapid decision-making when a product alleviates friction in essential workflows,such as payments in real estate, direct connections in health insurance, and AI-driven professional services in the consulting industry. This is why our Fund II focus is centred on proptech, healthtech, and AI-powered professional services that align with the UAE's digital ambitions for 2030."

Related: Startup Funding: Jonathan Lahyani, General Partner MENA and GCC Regions, The Lab Ventures