Alab­bar to Set Up $1bln Tech In­vest­ment Fund – MENA’S Largest to Date

Arabnet - The Quarterly - - Industry Stories -

Al-ab­bar En­treprises, along with a num­ber of pri­vate in­vestors from the re­gion, is set to launch the MENA’S largest tech­nol­ogy fund. Led by Emarati busi­ness­man Mo­hamed Al-ab­bar, the fund aims to col­lect in­vest­ments worth $1 bil­lion to drive Arab tech-en­trepreneur­ship and cre­ate a “shar­ing econ­omy” busi­ness model that will be con­sid­ered the first in the re­gion. The fund will search for op­por­tu­ni­ties to ac­quire tech­no­log­i­cal projects op­er­at­ing in high-growth sec­tors, such as re­tail, fash­ion, trans­porta­tion, me­dia, and oth­ers. Ac­cord­ing to Arab­net, cur­rent es­ti­mates value the fund­ing of tech star­tups in the MENA re­gion at over $750 mil­lion in 450 projects be­tween 2013 and 2015.

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