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Industry News

ISSF and Ibtikar Fund Invest in Mecal

Jordan-based product design and e-commerce company Mecal has received funding from Middle East-focused venture capital firm Ibtikar Fund and Jordan-focused government-backed vehicle the Innovative Startups and SMEs Fund (ISSF). Mecal

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MEVP and Impact46 Lead USD6.6 Million Series A for Nana Direct

Venture capital fund manager Middle East Venture Partners (MEVP) and Saudi Arabia technology-focused asset manager Impact46 have led a USD6.6 million Series A investment in Nana Direct, a Saudi Arabia-based

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BSynchro Secures USD1 Million Investment from Berytech and Phoenician Funds

Lebanon-based insurance technology company BSynchro has raised USD1 million from Lebanon-focused venture capital firms Berytech Fund and Phoenician Funds. Founded in 2005, the company provides software development and consulting services

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Gulf Capital Acquires 70 Percent Stake in Medica

Middle East- and Africa-focused alternative investment firm Gulf Capital has acquired a 70 percent stake in Medica Holding, a United Arab Emirates-based provider of aesthetic, cosmetic, and dermatological equipment and

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General Atlantic Invests in Property Finder and QuintoAndar (Latin America, Middle East)

U.A.E.-based real estate classifieds portal Property Finder has raised US$120 million in an investment round led by global growth equity fund manager General Atlantic. Existing shareholder Vostok New Ventures also

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Gulf Capital to Sell DOTW for US$173 Million (MENA)

Australia-based online travel site Webjet has agreed to acquire Dubai-based business-to-business (B2B) accommodation wholesaler Destinations of the World (DOTW) from Middle East- and Africa-focused alternative investment firm Gulf Capital, as

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AfricInvest Reaches Second Close for Maghreb Private Equity IV (MENA)

Pan-African private equity fund manager AfricInvest has held a second close for Maghreb Private Equity IV with EUR172 million (approximately US$199 million) in capital commitments. New investors in the fund

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B Investments Acquires 53 Percent Stake in Gourmet Group for US$7 Million (MENA)

B Investments, an Egypt-listed investment platform affiliated with private equity firm BPE Partners, has invested EGP125 million (approximately US$7 million) for a 53 percent stake in Gourmet Group, an Egypt-based

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