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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
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Industry News
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
Read MoreJada 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
Read MoreBadia 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
Read MoreGulf 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
Read MoreADPF 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
Read MoreShorooq 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
Read MoreNewly 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
Read MoreSHUAA 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.
Read More500 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.
Read MoreWamda, 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
Read MoreInvestcorp 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
Read MoreFaith 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
Read MoreApollo 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,
Read MoreDelivery Hero Acquires UAE’s E-Grocery Startup InstaShop for USD360m, Jabbar Internet and VentureFriends Exit
Delivery Hero has acquired Dubai-based grocery delivery marketplace InstaShop for USD360m, facilitating an exit for early backers Jabbar Internet Group and VentureFriends. Read more
Read MoreNational Talents, IM Capital, and DHV Partners Invest USD520k in Pre-Series A for Dubai Edtech Geek Express
Saudi-based National Talents, Lebanon’s IM Capital, DHV Partners, and an unnamed angel invested USD520k in Dubai- and Beirut-based Geek Express, an edtech that provides online and offline STEAM education to
Read More971 Capital Leads USD20m Investment in Dubai’s Insurtech Sehteq
UAE-based VC 971 Capital led a USD20m investment in Dubai-based insurtech Sehteq. Read more
Read MoreWamda, EQ2 Ventures, and Nuwa Capital Lead USD2.5m Pre-Series B for Dubai’s Eyewear E-Commerce Platform eyewa
Wamda, EQ2 Ventures, and Nuwa Capital led a USD2.5m pre-Series B bridge round for Dubai-based eyewear e-commerce platform eyewa. Read more
Read MoreArzan VC, AlTouq Group, and Nazer Group Lead USD5m Pre-Series A for Dubai’s Cloud Kitchen Operator iKcon
Arzan VC, AlTouq Group, and Nazer Group led a USD5m pre-Series A for iKcon, a Dubai-based cloud kitchen operator active across the UAE. Read more
Read MoreLeap Ventures Exits Lebanese Drone-Based Solutions Company NAR Technologies via Sale to B3bar
Leap Ventures has exited Lebanon-based tech-enabled drone inspection management company NAR Technologies via a sale to US-based B3bar. Read more
Read MoreEnko Capital Managers to Exit Dubai’s Logistics Company AMI Logistics
Enko Capital Managers has agreed to sell its minority stake in Dubai-based logistics company AMI Logistics to CEVA Logistics, a subsidiary of CMA CGM. AMI’s founders have also agreed to
Read MoreBECO Capital and Tamer Group Invest USD15m in Dubai’s Logistics Startup Fetchr
BECO Capital, Tamer Group, and French shipping company CMA CGM have invested USD15m in Dubai-based logistics startup Fetchr. The funding, which could rise to as much as USD25m, is part
Read MoreWamda and Anova Invest in Seven-Figure Seed Round for Dubai’s Ureed
Wamda Capital and Anova Investments led an undisclosed seed investment in Dubai-based freelance marketplace Ureed. Read more
Read MoreOTPP, GIC, GIP, Brookfield, NH Investments & Securities, and Snam Invest USD10.1b in ADNOC Gas Pipeline Assets
A consortium of investors including Ontario Teachers’ Pension Plan Board (OTPP), Singaporean sovereign wealth fund GIC, Global Infrastructure Partners (GIP), Brookfield Asset Management, NH Investments & Securities, and Italy’s Snam
Read MoreWa’ed Ventures and BECO Capital Lead USD25m Investment in Robo-Advisor Wahed
Saudi Arabia-based Wa’ed Ventures, the venture capital arm of Saudi Aramco Entrepreneurship Center, and technology-focused VC BECO Capital led a USD25m investment in Sharia-compliant robo-advisory platform Wahed, with participation from
Read MoreImpact46 Leads USD36m Series A for Saudi Food Delivery Startup Jahez
Saudi VC Impact46 led a USD36m Series A for Saudi Arabia-based food delivery startup Jahez. Read more
Read MoreAlgebra Ventures Leads USD3.5m Pre-Series A for Egyptian Social Commerce Platform Brimore
Middle East-focused fund manager Algebra Ventures led a USD3.5m pre-Series A for Egypt-based social commerce platform Brimore, with participation from existing investors 500 Startups and Flat6Labs, and from new investors
Read MoreIbtikar Fund Makes Seed Investment in Palestinian Meditation App Tawazon
Middle East-focused venture capital firm Ibtikar Fund has made an undisclosed seed investment in Palestine-based meditation app Tawazon. Read more
Read MoreFaith Capital Participates in Secondary Share Offering for Dubai’s Online Gift Card Distribution Company YouGotaGift
Kuwait-based VC Faith Capital has announced its participation in the secondary share offering for Dubai-based e-gift card distribution company YouGotaGift. Read more
Read More500 Startups and Saudi Venture Capital Lead Seed Round for Saudi SaaS Company Taker
Global VC 500 Startups and Saudi Venture Capital have invested an undisclosed amount in a seed round for Saudi SaaS company Taker. Read more
Read MoreShorooq Partners Leads USD5.8m Series A for Dubai’s VR Mobile App 360VUZ
UAE-based venture capital firm Shorooq Partners led a USD5.8m series A for Dubai-based virtual reality mobile app 360VUZ, with participation from KBW Ventures, Media Visions, Vision Ventures, Hala Ventures, and
Read MoreDubai’s Global Ventures Reaches USD50m Final Close for First Fund
Dubai-based VC Global Ventures has reached a USD50m final close for its first fund. Investors include Mubadala Investment Company, Abu Dhabi Investment Office, and the Public Investment Fund of Saudi
Read MoreGateway Partners Acquires 40% Stake in Tim Horton’s Gulf Franchise for USD50m
Dubai-based private equity firm Gateway Partners has acquired a 40% stake in the Gulf franchise of coffee and breakfast chain Tim Hortons through its Gateway Fund I. Gateway Partners reportedly
Read MoreWafra International Investment Company Leads USD20.6m Series A for UAE’s Agtech Pure Harvest Smart Farms
Kuwait-based asset management firm Wafra International Investment Company led a USD20.6m Series A for UAE-based agtech Pure Harvest Smart Farms. Wafra has invested USD10m in the company as part of
Read MoreRaed Ventures Leads USD6.6m Series A for Saudi Digital B2B Marketplace Sary
MENA-focused venture capital firm Raed Ventures led a USD6.6m Series A for Saudi Arabia-based digital B2B marketplace Sary, with participation from MSA Capital and Derayah Ventures. Read more
Read MoreASA Ventures Leads USD8m Seed Round for UAE’s E-Commerce Platform ZON
ASA Ventures led a USD8m seed investment for UAE-based mobile e-commerce network ZON. Read more
Read MoreSTV and MEVP Co-Lead USD18m Series B for Online Grocery Marketplace Nana with Participation from Wamda and Others
Saudi Technology Ventures (STV) and Middle East Venture Partners (MEVP) co-led a USD18m Series B for Saudi Arabia-based online grocery marketplace Nana. Wamda Capital, Watar Partners, Saudi Venture Capital Company,
Read MoreMEVP Leads USD1.4m Investment in Dubai Fintech Rise
Venture capital fund manager Middle East Venture Partners (MEVP) led a USD1.4m investment in Dubai-based fintech Rise, with participation from Dubai International Financial Center (DIFC) Fintech Fund, 500 Startups, Saudi’s
Read MoreArzan VC Reaches USD20m First Close for Second Fund
Kuwait-based Arzan Venture Capital has announced a USD20m first close for its second fund targeting Middle Eastern and North African startups. Investors include Saudi Public Investment Fund’s Jada, an additional
Read MoreOman Investment Corporation Reaches USD129.5m Final Close for Aman Healthcare Services Fund
Oman Investment Corporation has reached a OMR50m (approximately USD129.5m) final close for its Aman Healthcare Services fund. The vehicle will target the healthcare sector and plans to develop two specialized
Read MoreIbtikar Fund Leads Six-Figure Pre-Series A Investment for Palestine’s Receet
Middle East-focused venture capital firm Ibtikar Fund led a six-figure pre-Series A investment in Palestine-based digital receipt mobile app developer Receet with participation from Paltel Group. Read more
Read MoreWamda and Nour Nouf Knowledge Invest USD1.5m in Saudi Edtech Aanaab
Middle East- and North Africa-focused venture capital fund manager Wamda Capital and Saudi Arabia-based foundation Nour Nouf Knowledge Company have invested USD1.5m in Saudi edtech Aanaab. The platform offers professional
Read MoreThe Carlyle Group to Open Regional HQ in Abu Dhabi
The Carlyle Group has announced it will open its Middle Eastern regional headquarters in Abu Dhabi through a partnership with Abu Dhabi Catalyst Partners, a joint venture between Mubadala Investment
Read MoreWamda, Phoenician Funds, and B&Y Invest in USD6m Series A for Dubai’s Seez
Middle East- and North Africa-focused venture capital fund manager Wamda Capital, Lebanon-focused venture capital firms Phoenician Funds and B&Y have participated in a USD6m Series A funding round for Dubai-based
Read MoreIFC Leads USD125m Financing Package for UAE Healthcare Company Humania
The International Finance Corporation is the lead arranger for a USD125m Islamic financing package to UAE-based private healthcare company Humania. IFC will provide Humania with a USD35m Islamic facility. The
Read MoreWamda Leads USD3.5m Series A Follow-on for Jordan’s Tamatem
Middle East and North Africa-focused venture capital fund manager Wamda Capital led a USD3.5m Series A follow-on round for Jordan-based mobile games publisher Tamatem, with participation from Saudi Arabia’s Modern
Read MoreFMO Leads USD6m Investment in Jordanian Fintech Liwwa
Dutch development finance institution FMO led a USD6m investment in Jordan-based fintech Liwwa, with participation from Wamda Capital, 500 Startups, Edgo VC, and EFG-EV. Read more
Read More500 Startups, Derayah Venture Fund, and MEVP Lead USD5m Series B for Bahrain’s Eat
500 Startups, Derayah Venture Fund, and MEVP led a USD5m Series B for Bahrain-based restaurant booking application Eat. Read more
Read MoreSanabil Investments, Gulf Investment Corporation, and Olayan Invest USD35m in UAE’s SellAnyCar.com
Saudi Arabia Public Investment Fund subsidiary Sanabil Investments, Gulf Investment Corporation (the partial sovereign wealth fund owned equally by the six Gulf Cooperation Council states), and Olayan Financing Company have
Read MoreGulf Capital Leads USD40m Series D for Middle East Healthtech Vezeeta
Middle East- and Africa-focused private equity fund manager Gulf Capital led a USD40m Series D for healthcare platform Vezeeta, with participation from existing investor Saudi Technology Ventures. Read more»
Read MoreKKR and Altavair Acquire Commercial Aircraft Portfolio from Etihad Airways for USD1b
KKR and Altavair AirFinance acquired a portfolio of commercial aircraft from Etihad Airways, the national airline of the United Arab Emirates for USD1b. The acquisition will be made through aircraft
Read MoreKnollwood and Lumia Capital Lead USD60m Series B for Dubai-based Startup Kitopi
VC firms Knollwood and Lumia Capital led a USD60m Series B round in Dubai-based shared kitchen and online food delivery platform Kitopi, with participation from new and existing investors including
Read MoreIbtikar Fund Leads Pre-Series A in Palestine Startup Gamiphy
Ibtikar Fund led an undisclosed pre-Series A investment in Palestine-based gamification startup Gamiphy with participation from Kuwait-based Al Mohallab Kuwait Real Estate Company and Al-Joud Kuwait Holding Company. Gamiphy completed
Read MoreB&Y Ventures and Cedar Mundi Ventures Lead USD1.2m Seed Round for Beirut Dental Startup Basma
Beirut-based digital dental startup Basma secured USD1.2m in a seed funding round led by Lebanese VC firms B&Y Venture Partners and Cedar Mundi Ventures, with participation from iSME and angel
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