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The Venture Codex

Lunate

Unit No. 1, Floor 12, Al Maryah Tower, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates

Overview

Lunate adds value to clients through a differentiated investment strategy, a highly rigorous underwriting procedure, and fundamental due diligence.

Total investments
8
Lead investments
1
Investments · 12mo
2
Active investors
0
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Investment portfolio

  • Oviva

    Participated · Series D · Jan 2026

    Founded in 2014 by Kai Eberhardt and Manuel Baumann, Oviva pairs a medical-device-certified mobile app with remote multidisciplinary care teams to provide evidence-based lifestyle and behavioural interventions for weight management and chronic illnesses. The platform’s embedded AI personalises treatment pathways, supports clinicians’ workflow, and maintains consistent quality at scale. Integrated into national reimbursement schemes such as Germany’s DiGA, the UK’s NHS, and Switzerland’s health system, Oviva removes long wait times and geographic barriers for patients. More than 1 million patients have already used the service, and 90+ clinical studies support its long-term efficacy. Unlike competitors such as Kry/Livi, HelloBetter, Omada Health, or Noom, Oviva focuses on reimbursed, weight-related and metabolic care in European public systems. With fresh capital, the company plans to extend its digital programmes to additional chronic indications, including hypertension and type 2 diabetes, to better manage comorbidities. The €200 million Series D provides significant resources for product expansion and deeper market penetration across Europe.

  • ICICI Prudential AMC

    Participated · Equity · Dec 2025

    ICICI Prudential AMC is the asset-management subsidiary of ICICI Bank, partnering with UK-based Prudential Corporation Holdings. The firm manages a diversified suite of mutual funds and other investment products for retail and institutional clients. To prepare for a public listing, the company completed a sizeable pre-IPO round and has now set a ₹2,061–2,165 per-share price band for its upcoming ₹10,602-crore initial public offering, which will run from 12-16 December with listing expected on 19 December. The planned IPO is structured entirely as an offer-for-sale of over 4.89 crore shares by Prudential, so the company itself will not receive those proceeds. The pre-IPO equity placement valued the AMC at roughly ₹1.07 lakh crore (US $11.9 billion), highlighting strong investor demand. Post-placement, ICICI Bank increased its stake to 53 percent, while Prudential’s share will be correspondingly reduced ahead of the IPO. On listing, ICICI Prudential AMC will become the fifth asset-management firm and the fifth ICICI Group entity to trade on Indian exchanges.

  • Salmon

    Participated · Equity · Jun 2025

    Salmon Group operates a modern money app and a suite of financial products delivered through the Salmon app and runs a BSP-licensed bank (Salmon Bank) and an SEC-licensed financing company (Salmon Finance). Founded in July 2022 by Pavel Fedorov, George Chesakov, and Raffy Montemayor, the company aims to be a challenger to legacy banks in the Philippines by focusing on customer experience and execution speed. Salmon highlights product metrics such as a 4.8 rating in both the App Store and Google Play and 99.9% uptime, and offers competitive retail features cited in the announcement (for example, Salmon Credit’s up to 62-day grace period and an 8% term deposit rate). The group is backed by prominent US venture investors as well as IFC (World Bank Group), ADQ/Lunate, Antler and notable Filipino investors. Salmon plans to use new capital to expand products, deepen distribution, and further capitalize Salmon Bank to grow its lending and deposit footprint. The company positions itself to scale its balance sheet and lending portfolio through a mix of equity and public debt financing.

  • NymCard

    Participated · Series B · Mar 2025

    NymCard is a Dubai-based provider of an embedded finance platform operating across 10+ countries in the MENA region. The company offers the nCore platform, a MENA-based issuing processor that fully owns its processing and switching technology rather than licensing it. nCore is built on modular APIs and enables businesses to manage card issuance, transaction processing, lending infrastructure and real-time payments within an integrated finance stack. NymCard serves banks, enterprises, fintechs and telecom providers across three core verticals: Card Issuing & Processing, Embedded Lending, and Money Movement. In March 2025 the company raised $33M in a Series B round to support expansion. Led by founder and CEO Omar Onsi, NymCard intends to use the funds to consolidate its presence across its 10+ MENA markets and strengthen its payment infrastructure solutions. NymCard provides banking-as-a-service infrastructure to remove operational friction for fintechs and startups to issue their own payment cards. The company says it can cut the usual eight-month timescale to launch payment services by six months. NymCard supports multiple emerging use cases including gig economy, multi-currency, money transfers, corporate expense cards, on-demand delivery, BNPL offerings, and youth banking applications. It operates across Abu Dhabi, Dubai, Riyadh, Cairo, and Karachi. Founded in 2018, the firm is positioning to expand its product offering to serve a growing embedded finance market. CEO Omar Onsi framed the raise as a step toward evolving NymCard’s capabilities to better serve client needs in the region. NymCard provides end-to-end card issuing and processing solutions for financial institutions, banks, and fintechs, digitizing the payment card experience and reducing program costs. Its platform is designed to launch customer-focused card propositions in fewer than eight weeks. The company built its tech stack from the ground up to achieve speed and agility compared with legacy players. NymCard has served regional banks and fintechs, including a client described as the fastest-growing issuer in Iraq and the region’s first neo bank. Management says the cash-to-card shift is driving demand across banks, NBFIs, and startups, and that its technology helps clients navigate the regulatory and technical complexity of card programs. The Series A will support NymCard’s growth across the MENA region.

  • ElevenLabs

    Participated · Series C · Jan 2025

    ElevenLabs builds AI voice models and provides voice-as-a-service offerings aimed at enterprise customers, including multilingual automation and in-network AI agent use cases. The company has secured enterprise contracts with customers such as Deutsche Telekom, Revolut, and Klarna. ElevenLabs reported rapid revenue growth, ending last year with nearly $350 million in ARR, adding $100 million in net new ARR in Q1 2026 to reach roughly $450 million, and later surpassing $500 million in ARR. Its valuation climbed from $6.6 billion in September to $11 billion in February. The startup recently acquired the team from Polish voice AI startup Papla to bolster its research capabilities. It has also completed a $100 million tender and is enabling retail investment via Robinhood Ventures as part of its fundraising activity.

Team

No current team members are available.