Middle East Venture Partners led a USD10m Series A for Invygo, a UAE-based car subscription app, with participation from Al Rajhi Partners, Arab Bank, Amaana Capital and Palm Drive Capital, and follow-on from Signal Peak Ventures and Knollwood Investment Advisory. Read more… Read More
Impact46 led a USD50m round for Zid, a Saudi Arabia-based e-commerce solution for retailers, with participation from Wa’ed Ventures and Endeavour Catalyst, and follow-on from Global Ventures, Elm Company, Arzan and MSA Capital. Read more… Read More
VUZ (formerly 360VUZ), a UAE-basedVR content platform, raised a USD20m Series B led by Caruso Ventures, Vision Ventures, e& capital, Dubai Future District Fund, SRMG and Webit Investment Network. Elbert Capital, Yasta Partners, Faith Capital and Panthera Capital participated with follow-on from seven additional investors. Read… Read More
Rua Growth Fund, a joint venture of Osool & Bakheet Investment Company and iMENA Group, led a USD10m investment in ZenHR, a HR software provider based in Saudi Arabia, with follow-on from Endeavor Catalyst and others. Read more… Read More
Saudi Arabia’s Public Investment Fund (PIF) acquired a 34% stake in Egypt-based household appliances and consumer electronics retailer B.TECH from DPI for USD150m. DPI acquired the stake in B.TECH for EGP300m (~USD34m) in July 2016 through African Development Partners II. Read more… Read More
Investcorp, through its Investcorp Saudi Pre-IPO Growth Fund, acquired a majority stake in Nour Internet for Communication and Information Technology Company (NourNet), a Saudi Arabia-based digital solutions company providing services such as cybersecurity, domain registration and cloud computing. Read more… Read More
Eat App, a UAE-based restaurant reservations platform, raised a USD11m Series B from 500 Global, Middle East Venture Partners, Derayah VC, Dallah Albaraka, Ali Zaid Al Quraishi & Brothers Company, Rasameel Investment Company and others. Read more… Read More
Global Ventures and Wa’ed Ventures led a USD10.5m Series A for Saudi Arabia-based human resources platform Elevatus with participation from otf Jasoor Ventures. Global Ventures also led a USD4.4m seed round for Remedial Health, a Nigeria-based healthtech platform for digital procurement and patient medication records, with participation from Tencent, Y… Read More
liwwa, a Jordan-based peer-to-peer lending platform, raised a USD4.5m Pre-Series B led by DASH Ventures, FMO, Edgo and Bank al Etihad with participation from DEG. The company also raised an additional USD14m in debt financing also from Bank al Etihad as well as Capital Bank of Jordan, Jordan… Read More
The global digital revolution has breathed new life into the Middle East and North Africa (MENA) private capital industry following a long stretch of low activity. Additional analysis includes: A deep-dive into VC activity, which reached a record USD1.9b in capital invested in 1H 2022 despite a global tech slowdown… Read More
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