BECO Capital, a venture capital firm focused on technology investments in the Gulf Cooperation Council countries, has led a AED3.7 million (approximately US$1 million) Series A investment round in Bayzat, a United Arab Emirates-based medical insurance technology startup. The round also included a series of undisclosed private investors. Bayzat will… Read More
MENA- and Southeast Asia-focused alternative investment management firm Al Masah Capital has acquired United Arab Emirates-based Al Faris Restaurant, the owner and operator of a Johnny Rockets franchisee in the United Arab Emirates and Oman. The transaction was structured through Diamond Lifestyle, a food and beverage-focused private equity platform managed… Read More
MENA-focused venture capital firm Wamda Capital has reached a first close for Wamda MENA Ventures I, which has a target of US$75 million. Investors in the fund include development finance institution International Finance Corporation, global growth markets investor The Abraaj Group, United Arab Emirates-based conglomerate Crescent Enterprises and Kuwait-based telecommunications… Read More
TVM Capital Healthcare Partners, a private equity company focused on the Middle East, North Africa and India, Saudi Arabia-based conglomerate The Olayan Group, family office Al Zarooni Emirates Investment and other minority shareholders have agreed to sell their 100 percent stake in ProVita International Medical Center, a United Arab Emirates-based… Read More
Global venture capital firm New Enterprise Associates has led an US$11 million Series A investment round in United Arab Emirates-based Fetchr, a mobile app that uses mobile phone location data to ship packages between locations without addresses. Investment firms Delta Partners and Dhabi Holdings, consultancy Roland Berger and venture capital… Read More
Palestine-based online travel site Batuta has raised a US$2.5 million Series A round of funding from Palestine-focused private equity fund manager Siraj Fund Management Company. The transaction was structured through Siraj Palestine Fund I. The company will use the new funds to grow its core business and develop a new… Read More
Development finance institution International Finance Corporation (IFC) and MENA-focused investment banking and asset management firm Swicorp have invested US$18 million in Jordan-based vocational and technical education provider Luminus Education. Luminus will use the new funds to diversify its offerings and expand locally and regionally. Swicorp first invested in Luminus in… Read More
Middle East-focused alternative asset manager Gulf Capital has signed a debt financing agreement to support Egypt-based petrochemicals holding company Carbon Holdings. Gulf Capital will provide an AED92 million (approximately US$25 million) convertible, five-year loan facility to finance the development and expansion of three of Carbon Holdings’ petrochemical projects: a mining… Read More
Andrew Brown is the Managing Director and Chief Investment Officer of Emerging Capital Partners (ECP), an Africa-focused growth capital investor. In this interview, Andrew compares and contrasts the private equity opportunity in North Africa and Sub-Saharan Africa, highlights exit routes and strategies to mitigate risk,… Read More
International investment companies Piton Capital and Vostok Nafta Investment have led a US$6.5 million Series C round for Naseeb Networks, a Pakistan-based operator of online employment marketplaces with a focus on emerging markets. The company will use the new funding to accelerate its growth in target markets. Read More
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