Middle East

Regions

Featured

Middle East Data Insight (Year-End 2018)

EMPEA Members, log in and click through for your exclusive access to the detailed report and underlying data. Managers deployed USD516 million in the Middle East in 2018, representing a 102% year-over-year

Latest From EMPEA

Mid-Year 2020 Global Private Capital Industry Data & Statistics

2020 Global Limited Partners Survey

Legal & Regulatory Bulletin – Issue No. 29, June/July 2020

Trends In Global VC+Tech

Anthemis Exponential Leads USD7m Round for UAE’s Fintech NOW Money

Anthemis Exponential Ventures led a USD7m round for NOW Money, a Dubai-based fintech that provides digital accounts, low-cost remittances and other financial services to migrant workers, with participation from Knuru

Naghi Group, AlTour Group, Derayah Ventures, Others Invest USD20m Series A for UAE’s Cloud Kitchen Platform iKcon

Mohamed Yousuf Naghi Group, AlTouq Group, Derayah Ventures, B&Y Venture Partners, AbdulMohsin Al Houkair Holding Group and Nazer Group invested a USD20m Series A for Dubai-based cloud kitchen operator iKcon

Gulf Capital Invests USD30m in UAE’s ART Fertility Clinics

Gulf Capital has invested an additional USD30m in portfolio company ART Fertility Clinics, a UAE-based provider of fertility treatment services, to expand its operations to India. Gulf Capital acquired 100%

Gulf Capital Acquires US Healthtechs Eclat Health and Hansei Solutions for USD60m in Bolt-On for UAE’s Accumed

Gulf Capital has acquired US-based healthtech companies Eclat Health and Hansei Solutions for USD60m in a bolt-on acquisition aimed at expanding its healthcare-focused RCM platform. Gulf Capital already has a

Impact46 Leads USD6.5m Series A for Saudi Fintech Hala

Impact46, through its Impact46 Growth Fund, led a USD6.5m Series A for Saudi Arabia-based fintech Hala, with participation from Wamda and strategic investors. Read more

Propeller Reaches First Close for MENA VC Fund

Jordan-based VC Propeller has reached an undisclosed first close for Propeller Ventures II. The vehicle has a target size of USD15m and plans to invest in pre-seed and seed-stage startups

SHUAA Capital Leads USD50m Venture Debt Investment for UAE’s Agtech Pure Harvest Smart Farms

SHUAA Capital led a USD50m venture debt investment for UAE-based agtech Pure Harvest Smart Farms. Sancta Capital led a USD10m equity round in January 2021. Read more

Derayah Ventures Leads USD7.2m Series A for Saudi Fintech Lendo

Derayah Ventures led a USD7.2m Series A for Saudi Arabia-based fintech Lendo, with participation from Seedra Ventures, Shorooq Partners, 500 Startups and Impact46. Read more

Lebanese Music Streaming Platform Anghami to List on the Nasdaq After Merger with SHUAA Capital- and Vistas Media-Backed SPAC

Anghami, a Lebanon-based music streaming platform backed by Samena Capital, MEVP, and Endeavor Catalyst, is going to list on the Nasdaq via a merger with Vistas Media Acquisition Company, a

TVM Capital Healthcare Exits UAE’s CMRC via Sale to Amanat Holdings for USD232m

TVM Capital Healthcare has exited its investment in Cambridge Medical and Rehabilitation Center (CMRC), a post-acute care and rehabilitation services provider in the MENA region, via a sale to Amanat

Target Global Leads USD13m Seed Round for Bahraini Open Banking Platform Tarabut Gateway

Target Global Management led a USD13m seed round for Bahrain-based open banking platform Tarabut Gateway, with participation from Kingsway, CE Ventures, Entrée Capital, Zamil Investment Group, Global Ventures, Almoayed Technologies,

BECO Capital Leads USD5m Series A for UAE’s Used Luxury Goods Marketplace North Ladder

BECO Capital led a USD5m Series A for UAE-based second-hand luxury products and electronics marketplace North Ladder (formerly BuyBack Bazaar). Read more

Gulf Capital Exits Turkish Internet Service Provider Turknet

Gulf Capital has exited its 70% stake in Turknet Iletisim Hizmetleri (Turknet) via a sale to a consortium of buyers including Celebiler Family and Re-Pie Portfoy Yonetimi. Gulf Capital originally

Nuwa Capital Reaches USD75m First Close for MENA VC Fund

Nuwa Capital has reached a USD75m first close for Nuwa Ventures Fund I. The vehicle, which has an initial target of USD100m, will invest in startups operating in the SaaS,

NBK Capital Reaches First Close for USD300m Middle East Credit Fund

NBK Capital Partners has reached an undisclosed first close for its latest shariah credit fund anchored by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund. The vehicle, which has

Ruya Partners Provides USD25m in Debt Financing to UAE’s Streaming Service Company Starzplay

Ruya Partners has agreed to provide USD25m in debt financing to Starzplay, a UAE-based, on-demand video streaming service platform. Read more

Sanabil Investments and STV Lead USD20m Series B for Saudi Restaurant Management Platform FOODICS

Sanabil Investments and STV led a USD20m Series B for FOODICS, a Saudi Arabia-based restaurant management platform, with participation from Endeavor Catalyst, Elm, and Derayah Venture. Read more

Global Ventures and STV Lead USD2.25m Pre-Series A for Dubai’s Cybersecurity Startup spiderSilk

Global Ventures and STV led a USD2.25m pre-Series A for spiderSilk, a Dubai-based cybersecurity startup specializing in advanced threat detection technology, with participation from angel investors. Read more

SHUAA Capital-Led Consortium Completes USD308m Debt Buyout of Dubai-Based Stanford Marine Group

SHUAA Capital completed a debt buyout of Stanford Marine Group’s AED1.13b (approximately USD308m) facility, including offshore services related to the oil and gas industry in the Middle East. Read more

Access Bridge Ventures Reaches First Close for MENA VC Fund

Access Bridge Ventures has reached an undisclosed first close for its debut fund. The vehicle, which aims to raise USD25m, will invest in high-growth tech startups from Saudi Arabia, UAE,

Partners for Growth Provides USD10m in Venture Debt to UAE’s On-Demand Truck Aggregator TruKKer

Partners for Growth has provided USD10m in venture debt to UAE-based on-demand truck aggregator TruKKer. Read more

Arbor Ventures and Mubadala Lead USD23m Debt and Equity Series A for UAE’s Buy Now Pay Later Platform Tabby

Arbor Ventures and Mubadala Capital led a USD23m debt and equity Series A for UAE-based buy now, pay later platform Tabby, with participation from STV, Raed Ventures, Global Founders Capital,

Ethos Sells 1.4% Stake in UAE’s Fintech Channel VAS for USD5m

Ethos Capital has sold a 1.4% stake in Channel VAS, a UAE-based provider of airtime credit services and mobile financial solutions across emerging markets, for USD5m. Ethos retains a 8.89%

Delivery Hero Leads USD5.5m Investment in UAE’s Logistics Startup Quiqup

Delivery Hero led a USD5.5m funding round for Quiqup, a UAE-based startup providing on-demand and same-day delivery services for retailers, with participation from Cedar Mundi, Jobi Capital, and Trasnmed. Read

Five Capital Partners, Itochu, and Suez Acquire 65% Stake in Saudi Waste Management Company EDCO

Five Capital Partners, Itochu, and Suez have acquired a 65% stake in Saudi Arabia-based hazardous waste management company Environment Development Company (EDCO) for an undisclosed amount. Read more

Jada Commits to Saudi Alpha Capital Fund

Jada Investments, a fund-of-funds owned by Saudi Arabia’s Public Investment Fund (PIF), has signed an investment agreement with the Saudi Alpha Financial Fund for Private Equity to invest in Saudi

Badia Impact Squared Reaches USD36m First Close, EBRD Commits USD10m

Baida Impact Squared, a VC fund managed by Silicon Badia, has reached a USD36m first close. The European Bank for Reconstruction and Development (EBRD) committed USD10m to the fund which

Gulf Capital Acquires Majority Stake in UAE’s Intellectual Property Services Provider CWB

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

ADPF and ADQ to Invest USD2.1b in ADNOC Gas Pipeline Assets

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

Shorooq Partners Leads USD2.3m Pre-Seed Round for Saudi B2B Marketplace Retailo

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

Newly Founded +VC Launches Debut MENA Fund

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

SHUAA Launches USD200m Financing Opportunities Fund

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.

500 Startups, Phoenician Funds, Others Invest USD1.8m Pre-Series A for Lebanese Edtech Synkers

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.

Wamda, Class 5 Global, and Others Make USD1.35m Seed Investment for Saudi SaaS Startup Penny Software

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

Investcorp to Exit Partial Stake in Saudi Arabia’s Grocery Retail Operator BinDawood via IPO

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

Faith Capital Invests USD8m Series B for Kuwait’s Laundry Marketplace Platform JustClean

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

Apollo Global Management-Led Consortium to Acquire 49% Stake in UAE’s ADNOC Property Leasing Unit for USD2.7b at USD5.5b EV

A consortium of investors led by Apollo Global Management has agreed to acquire a 49% stake in UAE-based Abu Dhabi Property Leasing Holding Company, a wholly owned affiliate of ADNOC,

Regions

Middle East

Featured

Latest From EMPEA

Industry News

STAY UP-TO-DATE ON EMERGING MARKETS PRIVATE CAPITAL ACTIVITY

The Global VC Cache is a new bi-weekly newsletter covering cross-border tech transactions and innovations with cross-border applications in a rapidly changing world.

Geographies include Asia, Africa, Latin America, the Middle East, and other emerging venture+tech markets.

Click here to sign up.