Gulf Capital has acquired a majority stake in CWB Group, an intellectual property services provider with operations in the Middle East and North Africa, for an undisclosed amount. Read more… Read More
The Abu Dhabi Pension Fund (ADPF) and UAE-based holding firm ADQ have agreed to invest USD2.1b in select Abu Dhabi National Oil Company (ADNOC) gas pipeline assets. Under the terms of the agreement, ADNOC will divest 20% in ADNOC Gas Pipelines to ADPF and ADQ. Read more… Read More
Shorooq Partners led a USD2.3m pre-seed round for Saudi Arabia-based B2B e-commerce marketplace Retailo, with participation for 500 Startups and 92 Ventures. Read more… Read More
Sharif El-Badawi and Hasan Haider, former managing partners of 500 Startups’ Falcons Fund, have founded Plus Venture Capital (+VC) and launched its debut fund with a reported initial target of USD60m to be invested in early-stage tech startups in the Middle East and North Africa. Read more… Read More
SHUAA Capital has launched SHUAA Financing Opportunities Fund with an initial target of USD200m. The vehicle, which targets special situations in the GCC, has attracted USD68m in commitments to date. Read more… Read More
500 Startups, Phoenician Funds, Kafalat iSME, Mulcan Investment, Seeders, Crescent Capital, and Dubai Angel Investors invested a USD1.8m pre-Series A for Lebanon-based edtech Synkers. The round was led by Dr. Lama and Dalia Al Sulaiman of Saudi conglomerate Rolaco Holdings. Read more… Read More
Wamda, Class 5 Global, Outliers VC, Plug and Play, and angel investors have made a USD1.35m seed investment in Penny Software, a Saudi Arabia-based software company for procurement management and B2B marketplace. Read more… Read More
Investcorp has agreed to partially exit its stake in Saudi Arabia-based grocery retail operator BinDawood via the company’s upcoming IPO on the Saudi Stock Exchange Tadawul. Shareholders including Akasiya Star Trading Company, Abdullah BinDawood Sons Company, and Investcorp-subsidiary Commercial Growth Development Company will sell 22.86m ordinary shares, representing… Read More
Faith Capital Holding has invested a USD8m Series B for Kuwait-based laundry marketplace platform JustClean. Faith Capital acquired the startup in 2017. Read more… Read More
Members can log in to receive exclusive access to the full detailed report (PDF) and underlying data (Excel). Fundraising for EM-focused private capital vehicles declined by 15%, year over year, to USD34.7b in the first half of 2020. COVID-19 has… Read More
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