Graphene Ventures led a USD36m equity and debt round for Saudi Arabia-based B2B marketplace Retailo, with participation from 500 Global, Agility, Aujan, Tech Invest Com and Mentor’s Fund, and follow-on from Shorooq Partners, Abercross Holdings, Arzan VC and AgFunder. Nahda Fund provided venture debt, which comprised less than 20% of… Read More
FIM Partners and STV led a USD50m round for Saudi Arabia-based dark store Nana, with participation from Quencia Capital, Faith Capital, Jahez and Sunbulah Group, and follow-on from MEVP and Impact46. Read more… Read More
Khwarizmi Ventures reached a USD70m second close for its current fund targeting early-stage investments in startups across the Middle East, North Africa and Pakistan region. Read more… Read More
Iraq-based super app Baly raised a USD10.5m seed round from Kingsway Capital, MSA Capital, Global Founders Capital, Vostok Ventures, Majid Al Futtaim and March Holding. Read more… Read More
Chimera Capital reached a USD10b final close for Alpha Wave Ventures II. The fund, which is co-managed with Alpha Wave Global (formerly Falcon Edge Capital), will focus on fintech, AI, life sciences, consumer internet and B2B. Read more… Read More
Ibtikar Fund reached a USD15m first close for its second fund targeting investments in early-stage tech companies based in Palestine as well as in Palestinian founders throughout the MENA region. The vehicle has a USD30m target. Read more… Read More
Kleiner Perkins and Paradigm led a USD110m Series B for Bahrain-based crypto exchange Rain Financial at a reported USD500m valuation, with participation from Coinbase Ventures, Global Founders Capital, MEVP, Cadenza Ventures, JIMCO and CMT Digital. Read more… Read More
Euphrates Ventures led a USD3.2m bridge round for Iraq-based Alsaree3 Group, consisting of Alsaree3 (food-delivery) and Al Zajel Express (last-mile delivery services). Read more… Read More
Foodics, a Saudi Arabia-based restaurant management platform backed by STV and Sanabil Investments, acquired POSRocket, a Jordan-based POS service provider, for an undisclosed amount. Read more… Read More
Jahez, a Saudi Arabia-based online food delivery platform backed by Impact46, listed on the Saudi Exchange’s Parallel Market (Nomu) with a market capitalization of USD2.4b. Read more… Read More
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