Dubai’s Abraaj invests in Palestine games firm

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Dubai private equity investor Abraaj Group has bought a stake in Anoud Games, a Palestine-based maker of Arabic-language educational games and toys for children.

The investment from Abraaj, which specialises in acquiring stakes in companies in emerging markets, comes via its Palestine Growth Capital Fund and is made jointly with the Palestine Investment Fund (PIF)’s Sharakat Programme, which targets small to medium-sized enterprises.

Neither Abraaj nor PIF disclosed financial particulars of the transaction with East Jerusalem-based Anoud, which was founded in 1996 and is one of the largest makers and distributors of educational toys in the Palestinian Territories.

A statement said that the investment would fuel Anoud’s expansion of its product range and geographic reach.

“Our investment in Anoud Games underlines the Abraaj Group’s commitment to the SME space in Palestine through our Palestine Growth Capital Fund,” said Ahmed Badreldin, partner and head of MENA, Abraaj Group.

“Anoud Games is now well-positioned to increase its product range and geographic reach in order to capitalise on the attractive regional demographic trends in this underserved subsector,” he added.

Abraaj currently manages US$7.5bn in assets. Its portfolio also includes stakes in Sharjah-based low cost carrier Air Arabia, Dubai private education provider GEMS and supermarket chain Spinneys.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Finance talk with RAKBANK

Finance talk with RAKBANK

StartUp sat down with RAKBANK’s head of personal banking, Ian...

Tips from the top: Hisham Al Gurg

Tips from the top: Hisham Al Gurg

High profile investor and entrepreneur Hisham Al Gurg discusses...

1
The hubsters' ecosystem

The hubsters' ecosystem

Tamara Pupic visits Impact Hub Dubai, the first local branch...

Most Popular
Most Discussed