BLOOMBERG/PHIL WEYMOUTH
Bahrain’s Al Waha Fund of Funds has invested in Beijing-based MSA Capital—its first investment in a Chinese fund.
The funding is the latest announced by Al Waha, which was launched in 2018 to drive greater venture capital investment across the Middle East. The fund provides market access for international organisations looking to invest in the Gulf region as well as for portfolio companies looking to expand.
Al Waha Fund of Funds stated that the $250 million Chinese fund has already made 10 investments across the Gulf region over the past year and has facilitated exchanges for Chinese and Bahraini entrepreneurs.
Areije Al Shakar, Fund Director at Al Waha Fund of Funds, said, “Both China and Bahrain offer a substantial pool of tech talent, start-up capital and digitally-minded consumers, so the scope for further building this relationship is substantial.”
Bahrain offers an innovative and stable start-up ecosystem that enables entrepreneurs to grow their ideas amid an atmosphere of pro-business regulation and strong public-private partnerships.
Al Waha Fund of Funds has so far invested in a range of venture capital firms such as BECO Capital, Middle East Venture Partners as well as 500 start-ups and European fund manager Finch Capital.
MOST READ
BUSINESS
Fed rate cuts add pressure on Saudi banksBUSINESS
ING Groep plans to sell its Turkish unitBUSINESS
Bahrain considers stake sell in oil assetsBUSINESS
SABB seeks to boost corporate lendingBUSINESS
Dubai’s W Motors seeks funds to go electricBUSINESS
HSBC considering exiting from TurkeyBUSINESS
Zimbabwe turns to UAE to sell a stake in...BUSINESS
Dubai's DP World buys 44 per cent stake in...BUSINESS
Abu Dhabi’s Masdar launches green REIT in UAEBUSINESS
ADIA plans to sell a $2 billion stake in...BUSINESS
Amanat considers stake in VPS HealthcareBUSINESS
ACWA Power expands operations into AzerbaijanBUSINESS
Mashreq Bank provides escrow services to DIFCBUSINESS
ECI, HSBC partner to support UAE businessesBUSINESS
Saudi Arabia’s NCB, Riyad Bank end merger talksBUSINESS
National Bank of Oman to exit from Egypt
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
