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30 January, 2021

Regional Tech Startups to get Investment Support

The Mubadala Capital, the financial investment arm of Abu Dhabi’s sovereign fund, Saudi Venture Capital Company (SVC), and several prominent family offices make investments to support the tech start-ups in the Gulf and MENA region.

The newly launched regionally focused fund, ABV (Abu Dhabi-based Accessed Bridge ventures) is expected to target a 25 million$ and also help the start-ups in Egypt and Pakistan.

Tech start-ups in Saudi Arabia, the UAE, Egypt, Pakistan, and the wider MENA region get supports from the ABV for the development of tech start-ups.

ABV led by Issa Aghabi and Rakan AlRashed said that it will provide support to build regional and international champions across a lot of sectors like health-tech, edu-tech, fin-tech enterprise-tech, and software as a service (SaaS).

Issa Aghabi and Rakan AlRashed who has a lot of experience investing and exiting tech companies in the MENA region. Before ABV, Aghabi led the IFC (International Finance Corporation) in MENA, and Pakistan and AlRashed were leading an investment firm that was concentrating on SMEs (small and medium enterprises) and start-ups.

Issa Aghabi, one of the co-founders stated that “The MENA scene has changed in recent years, with business visionaries and new companies acting as a catalyst for economic development and advancement.

ABV has the special capacity to recognize and develop this new variety of tech organizations, a significant number of which are remarkable in their own right, and assist them with understanding their maximum potential.

CedarBridge Capital Partners, a center market private value firm, has helped to establish the fund as a component of its order to join forces with promising founders and management teams and assist them with their growth.

 

Source: arabianbusiness

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