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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Shuaa Capital of Dubai sets up $250m venture debt fund

Alahmadi is set to be a part of the Board’s Investment Committee.
By TRENDS Desk
March 23, 2022 3:58 pm
  • According to the company, the Shariah fund, to be listed in Abu Dhabi’s market, will focus on technology ventures “seeking alternative sources of capital”
  • Early-stage businesses are dominating investments with VC funding to the Middle East and North Africa startups soaring to $2.6 billion in 2021

Shuaa Capital, the Dubai-based fund manager, has set up a $250 million venture debt fund in order to shore up businesses and create jobs in the region.

According to the company, the Shariah fund, to be listed in Abu Dhabi’s market, will focus on technology ventures “seeking alternative sources of capital.”

“We aim to support the growth of businesses, create jobs, lead further developments in innovation and technology, support economic diversification, and guide founders towards realizing their vision,” said head of debt at Shuaa Capital, Natasha Hannoun.

The move comes at a time when the Gulf is seeing a boom in venture capital transactions, having increased by 112 percent annually, with 281 deals worth $1.7 billion.

Early-stage businesses are dominating investments with VC funding to the Middle East and North Africa startups soaring to $2.6 billion in 2021.

 

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