ADQ will invest in high-growth technology companies that will help to create, promote, and drive new digital opportunities in Jordan
venture capital fund
fintech
Why did investments into MENA fintechs boom in 2021?
In the first of a three-part series, Tammer Qaddumi, the founding partner of VentureSouq, explores the dramatic growth of regional fintech firms in 2021
Bold Fund for Emerging Ventures
New $100 million venture capital fund asserts UAE’s position as a global entrepreneurship hub
Here’s why the UAE’s Bold Fund for Emerging Ventures will attract global entrepreneurs to Dubai, and increase the number of startups mainly in the fintech sector
attract investors
How will the UAE’s new venture capital fund help overcome obstacles in the nation’s startup sector?
While the $100 million fund announced by Sheikh Hamdan bin Mohammed is a prime example of the drive to be at the forefront of a digital future, it is also crucial for startups in the fintech space where areas of success may be uncertain, experts said
DIFC
Dubai Crown Prince launches $100 million venture capital fund to bolster startups and entrepreneurs
The venture capital fund will come into effect in June 2022 and will run for eight years, with a possible two-year extension. It is expected to provide more than 8,000 jobs for emerging talent.
2022 Middle East and North Africa (MENA) Venture Report
MENA venture capital funding soars to a record $2.6bn in 2021 as fintech, e-commerce claim a third of the deals
UAE start-ups accounted for 26 percent of all deals closed across the MENA region, and 45 percent of all venture capital funding raised across the region in 2021
BECO Capital
Sustainability-driven water tech firm Wisewell closes $2 milion pre-seed funding round led by BECO Capital
Wisewell’s purified drinking water technology solution places an emphasis on transparency, sustainability, and convenience and is aligned with the Dubai Can initiative and Abu Dhabi’s single-use plastic ban
digital healthcare
Hikma Ventures leads region’s largest seed funding round for mental health startups
Egypt’s O7 Therapy raised $2.1m with participation from C-Ventures, Lotus Ventures, and several prominent angel investors
blockchain technology
New $100m UAE fund to focus on blockchain, crypto investments
Venture capital firm Cypher Capital announces the launch of one of the region’s biggest seed funds
Debt financing
SHUAA Capital launches GCC’s largest venture debt fund to support growth of regional technology leaders
SHUAA Venture Partners is a $250 million Shari’ah fund that has been established to support the growth of regional technology and technology-enabled leaders that are seeking alternative sources of funding
GlobalData
Early stage funding rounds attracted the most VC cash in 2021
In a positive indicator for new startups, a total of 6,448 seed and 5,769 series A financing rounds were announced throughout the year, new data revealed
business funding
Saudi-based e-commerce Retailo raises $36 million in Series A round
The round will help the platform fund its digitisation efforts of stores in Pakistan, UAE, and Saudi Arabia.
Alpha Wave
One of biggest-ever tech funds wins backing of UAE royal’s firm
Chimera Capital, part of a business empire overseen by Sheikh Tahnoon Bin Zayed, said the Alpha Wave Ventures II Fund will target companies that have yet to go public
Ibtikar
Palestinian VC firm Ibtikar Fund announces initial closing of its second fund at $15m
With the Palestinian start-up scene still at its infancy, Ibtikar Fund II CV will play a key role in supporting Palestinian tech start-ups and entrepreneurs both locally and globally
business funding
Chimera Capital closes first venture capital fund at $75m
Fund’s third and final funding round saw it exceed its initial $65m target in less than two months
digital economy
Dubai launches AED1bn fund in push to encourage public listings
New Future District Fund will help to establish 1,000 digital companies in the emirate in the next five years
banking technology
Oman’s Phaze Ventures launches $30m fund, eyes UK fintech
Phaze Ventures launches $30m fund to back early-stage start-ups in MENA, Europe and North America in a first for Oman