The EMPEA Data Insights are quarterly updates of high-level trends and notable developments in all major emerging market regions plus Brazil, China, and India. The Data Insights offer unique access to EMPEA’s statistics at the regional and country level and provide detailed analytics of fundraising trends and deal flow. … Read More
Egypt-based online real estate marketplace Aqarmap.com has raised a Series A funding round from MENA-focused venture capital firms Wamda Capital, KISP Ventures and Raed Ventures, as well as several family offices with interests in the real estate sector. The company plans to use the new funds to strengthen its presence… Read More
United Arab Emirates-based automated investment advisory platform Sarwa has raised US$1.3 million in a pre-Series A round from venture capital firms Shorooq Investments, Middle East Venture Partners (MEVP), 500 Startups, Women’s Angel Investor Network, Hala Ventures and Saned Partners. Sarwa launched its services in February 2018 under the Innovation Testing… Read More
MENA-focused alternative investment manager Investcorp has sold its remaining 15.65 percent stake in Kuwait-based Gulf Cryo to other shareholders of the company. Gulf Cryo manufactures and distributes industrial, medical and specialty gases to companies in MENA and Turkey. Investcorp originally invested in Gulf Cryo through Gulf Opportunity Fund 1 in… Read More
MENA-focused venture capital firm Algebra Ventures, along with KISP Ventures, Arzan Venture Capital and Financial Horizon Group, has invested US$1.5 million in Jordan-based software developer POSRocket. The company, which provides cloud-based point-of-sale software for restaurants and retailers, plans to use the funds to expand its business in the region. Read More
Africa-focused private equity fund manager Alta Semper Capital has agreed to invest in Oncologie et Diagnostic du Maroc (ODM), a Morocco-based oncology, radiology and diagnostics group. ODM has established a network of seven health care centers in Morocco’s major cities through bolt-on acquisitions. The company reportedly plans to use the… Read More
Global growth markets investor The Abraaj Group has agreed to sell its stake in the Dubai campus of U.K.-based Middlesex University to Amanat Holdings, a U.A.E.-based investor in health care and education, for approximately US$100 million. Abraaj acquired a stake in the overseas campus, which serves about 3,000 undergraduate and… Read More
The year promises to be an active one for regulatory initiatives and the EMPEA Winter Bulletin focuses on positive as well as challenging developments including the impact of MiFID II in the UK on emerging market fund managers, recent shareholder and creditor pre-investment corporate restructuring limitations in Nigeria, the relaxation of licensing and registration for private, non-real estate investment funds and asset… Read More
Global growth markets investor The Abraaj Group has fully exited U.A.E.- and Egypt-listed engineering and construction contractor Orascom Construction Industries (OCI) for US$52 million. Abraaj sold 6.3 million shares, representing a 5.4 percent stake, for US$8.30 per share on Nasdaq Dubai. Abraaj first acquired a stake in OCI when the… Read More
Middle East- and Asia-focused private equity firm Fajr Capital has completed its exit of United Arab Emirates-based oilfield services provider National Petroleum Services (NPS) to U.S.-listed special-purpose acquisition company National Energy Services Reunited (NESR). Fajr signed a definitive agreement with NESR in November to sell its stake in NPS. All… Read More
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