Zain makes a strate­gic in­vest­ment in US-based Colle Capital Part­ners

Kuwait Times - - BUSINESS -

Zain Group, a lead­ing in­no­va­tor of mo­bile com­mu­ni­ca­tions in eight mar­kets across the Mid­dle East and Africa, has made a strate­gic in­vest­ment in Colle Capital Part­ners, (www.col­le­cap­i­tal.com) a global, op­por­tunis­tic, early stage tech­nol­ogy ven­ture fund based in New York, with a pres­ence in San Francisco.

Colle Capital Part­ners has a diver­si­fied tech­nol­ogy fo­cus with an em­pha­sis on data in the fol­low­ing sec­tors: En­ergy, Me­dia, Telecom­mu­ni­ca­tions, Health IT, Se­cu­rity, and Soft­ware Devel­op­ment. The fund’s man­agers have ac­cess to unique, high qual­ity in­vest­ment op­por­tu­ni­ties and the fund was over­sub­scribed. Its Manag­ing Part­ner -Victoria Grace - is a pro­fes­sional ven­ture in­vestor with a suc­cess­ful track record of over a decade.

Zain’s in­vest­ment in Colle Capital Part­ners forms part of its Zain Dig­i­tal Fron­tier and In­no­va­tion (ZDFI) business unit strategy, which was es­tab­lished in 2014, and charged with launch­ing Zain into the dig­i­tal space with the view to grow­ing the com­pany through new in­no­va­tive business streams, which add to its fi­nan­cial vi­a­bil­ity and mar­ket cap­i­tal­iza­tion. Zain has pre­vi­ously made three in­vest­ments in tech­nol­ogy-fo­cused ven­ture capital and early-stage in­vest­ment com­pa­nies, and this lat­est par­tic­i­pa­tion fur­ther es­tab­lishes a bridge be­tween suc­cess­ful dig­i­tal star­tups and Zain.

The in­vest­ment in Colle Capital Part­ners also ex­tends the ge­o­graphic range of Zain’s po­ten­tial part­ner en­ti­ties to the United States, tak­ing them be­yond the Mid­dle East and East­ern Europe where the com­pany’s cur­rent in­vest­ment ven­tures have their pool of in­flu­ence. Zain’s strategy to par­tic­i­pate at an early stage in the life­cy­cle of a com­pany and help the team to achieve its com­mer­cial goals by sup­port­ing its early-stage devel­op­ment drove its in­ter­est in Colle Capital Part­ners. The fund is driven by a desire to in­vest in peo­ple, with a goal to iden­tify and sup­port teams that demon­strate in­tel­lect and pas­sion as well as agility in their think­ing and ex­e­cu­tion.

Com­ment­ing on Zain’s lat­est strate­gic in­vest­ment, Group CEO, Scott Ge­gen­heimer said, “We are de­lighted to add Colle Capital Part­ners to MEVP, Wamda and Early­Bird as early stage in­vest­ment com­pa­nies we have made in­vest­ments in, with this fund be­ing par­tic­u­larly nim­ble and highly se­lec­tive. We are keen to ex­tend our reach to the US as we are well aware of that mar­ket’s in­no­va­tion and hi-tech cre­den­tials, and we be­lieve ideas and so­lu­tions from that geog­ra­phy will drive real-life dig­i­tal ap­pli­ca­tions and cre­ate new revenue streams in our re­gion.”

Victoria Grace, Founder and Manag­ing Part­ner of Colle Capital Part­ners­said, “”We are thrilled to be part­ner­ing with Zain in our ef­forts. We aim to bring to our port­fo­lio com­pa­nies not just capital but also ac­cess to for­ward think­ing, strate­gic part­ners that will cre­ate sig­nif­i­cant syn­er­gies for our com­pa­nies

be­yond US borders. We are al­ready en­gaged with Zain on a num­ber of ef­forts and view this as a win-win part­ner­ship.”

Emre Gurkan, Chief Strategy & Business Devel­op­ment Of­fi­cer of Zain Group said, “Mo­bile op­er­a­tors must in­no­vate to re­main rel­e­vant and the ex­plo­ration of new op­por­tu­ni­ties to dif­fer­en­ti­ate our­selves is vi­tal to our fu­ture pros­per­ity. At Zain, we have taken a pro-ac­tive step to co­op­er­ate with a broad range of part­ners that we be­lieve share our vi­sion of dig­i­tal trans­for­ma­tion. The in­clu­sion of Colle Capital Part­ners into our­grow­ing ecosys­tem of part­ners will add value to our progress in this areafor the benefit of our cus­tomers and other stake­hold­ers.” Boosted by this lat­est in­vest­ment, ZDFI will con­tinue to fo­cus on the ar­eas of in­no­va­tion; dig­i­tal ser­vices; cor­po­rate ven­tur­ing; and smart cities, with the ul­ti­mate aim of Zain be­com­ing a re­gional in­no­va­tion trend­set­ter.

Victoria Grace - Colle Capital Manag­ing Part­ner

Scott Ge­gen­heimer CEO of Zain Group

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