Middle East-focused alternative asset manager Gulf Capital has completed the acquisition of 100 percent of United Arab Emirates-based hospitality distributor Destinations of the World (DOTW) in partnership with the company’s senior management. DOTW secures hotel room inventory and sells bookings to its distribution network of travel agents, airlines and tour… Read More
Tokyo-listed online recipe portal Cookpad has reached a definitive agreement to acquire Netsila, the Lebanon-based company behind Arabic language recipe website Shahiya.com, for US$13.5 million. Cookpad’s acquisition will facilitate an exit for MENA-focused venture capital firm Middle East Venture Partners (MEVP). MEVP originally invested in the company in 2012. Subject… Read More
Private equity and growth capital firm TVM Capital Healthcare Partners has launched a mandatory tender offer to buy a majority stake in Egypt-listed Ameco Medical Industries, a company that designs and manufactures catheters. The move is part of a deal with commercial bank National Bank of Egypt and mutual fund… Read More
Early stage technology investor Silicon Badia has led a Series A financing round of more than US$5 million for Jordan-based online retailer Wysada. The transaction was structured through Silicon Badia’s Badia Impact Fund. The round also included participation from new and existing investors from the Gulf Cooperation Council countries. Wysada… Read More
Middle East-focused venture capital firm Middle East Venture Partners (MEVP) has reached a first close on its IMPACT Fund with more than US$50 million in capital commitments. Investors in the first closing included the fund’s co-sponsors, BLOM Invest Bank and MedSecurities Investment, as well as other Lebanese banks. The fund is… Read More
MENA-focused private equity and mezzanine fund manager NBK Capital has closed its latest private equity fund, NBK Capital Equity Partners Fund II, with US$310 million in capital commitments. The fund, which was oversubscribed, will acquire stakes in middle market companies across the MENA region and has already completed investments in… Read More
Middle East-focused alternative asset manager Gulf Capital has closed its third private equity fund, GC Equity Partners Fund III, with US$750 million in commitments. Investors in the fund, which was oversubscribed, include sovereign wealth funds, pension funds, endowments, funds of funds, insurance companies, family offices and other institutional investors. Fund… Read More
Samena Capital, an investment group focused on the Indian subcontinent, Asia and the Middle East and North Africa, has acquired a stake in United Arab Emirates-based duty free and travel retail operator Flemingo International. The company intends to use the capital to fund its expansion plan, which includes acquisitions and… Read More
Middle East-focused alternative investment firm Gulf Capital has completed the acquisition of a minority stake in Egypt-listed glass bottle supplier Middle East Glass Manufacturing (MEG). MEG is a glass container manufacturer and producer of bottles for the carbonated soft drink sector. Financial details of the transaction were not disclosed. Read More
Palestine-based WebTeb, the operator of an Arabic language health and lifestyle portal, has closed a US$3.2 million Series C financing round led by venture capital firm Sadara Ventures. Existing investors, including Palestine-focused fund manager Siraj Fund Management Company (SFMC), also participated. SFMC’s transaction was structured through Siraj Palestine Fund. WebTeb… Read More
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